RBI opens a dollar window for three oil marketing companies

RBI opens a dollar window for three oil marketing companies From October 12, 2026, the Reserve Bank of India will meet the full daily US dollar requirements of Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited through designated banks. The measure comes as crude oil prices have moved above $100 per barrel and the rupee has approached ₹97 per US dollar. The facility is intended to ease pressure on the foreign exchange market while ensuring access to dollars for these companies’ oil purchases. My view: Direct dollar access can reduce the immediate difficulty of sourcing foreign currency, but it does not remove the underlying risk from expensive crude. For oil marketing companies, profitability will still depend on crude procurement costs, domestic fuel pricing, inventory effects and the ability to pass costs through to customers. What to watch next: Track crude prices, the rupee’s movement and future company results for evidence of any change in marketing margins and inventory impact. Stance: The measure offers operational support, but sustained improvement in profitability is not yet established.