Press Releases

PDF document (104 kb)
Date : Aug 28, 2013
RBI introduces Forex Swap Window for Public Sector Oil Marketing Companies

On the basis of assessment of current market conditions, Reserve Bank of India has decided to open a forex swap window to meet the entire daily dollar requirements of three public sector oil marketing companies (IOC, HPCL and BPCL). Under the swap facility, Reserve Bank will undertake sell/buy USD-INR forex swaps for fixed tenor with the oil marketing companies through a designated bank. The swap facility gets operationalized with immediate effect and will remain in place until further notice.

Alpana Killawala
Principal Chief General Manager

Press Release : 2013-2014/437


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