📷 Image: Wikimedia Commons / Vyacheslav Argenberg
Business
RBI Launches New Forex Window to Meet Dollar Demands of IOC, BPCL, HPCL
✍️ Asianet Newsable
🗓 10 Oct 2026, 02:03 PM
👁 19
The Reserve Bank of India has introduced a dedicated forex facility to cater to the dollar requirements of major oil companies Indian Oil Corp, Bharat Petroleum and HPCL.
The Reserve Bank of India (RBI) today announced a new foreign exchange window aimed at meeting the dollar needs of the country’s leading oil firms.
The facility will allow Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) to access U.S. dollars more efficiently for imports, equipment purchases and other overseas transactions.
RBI officials said the window is designed to streamline the process, reduce transaction costs and provide a more predictable source of foreign currency for the energy sector.
The launch follows a growing demand for dollars as the oil companies look to import refined products and technology amid global market volatility.
The new mechanism is expected to support the companies’ operational stability and help maintain supply chain continuity.
The facility will allow Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) to access U.S. dollars more efficiently for imports, equipment purchases and other overseas transactions.
RBI officials said the window is designed to streamline the process, reduce transaction costs and provide a more predictable source of foreign currency for the energy sector.
The launch follows a growing demand for dollars as the oil companies look to import refined products and technology amid global market volatility.
The new mechanism is expected to support the companies’ operational stability and help maintain supply chain continuity.