RBI opens dollar window for oil firms, tightens FX derivatives
Reserve Bank of India opened a special daily dollar window for state-run oil companies and tightened foreign exchange derivative rules to ease pressure and curb rupee volatility.
The Reserve Bank of India (RBI) has opened a special dollar window for state-run oil companies to meet their dollar requirements on a daily basis, and has tightened foreign exchange derivative rules to ease pressure on the rupee and curb volatility. The measures could provide near-term relief, but are unlikely to fully resolve underlying market pressure.