# RBI opens special USD window for these 3 state-run OMCs; facility in effect from Oct 12 - What it means for INR support? — retained record

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source: [news](https://highsignal.app/data/news) (news:india-mint-markets)  published 2026-10-10 09:22 ingested 2026-10-11 02:45

[original source ↗](https://www.livemint.com/market/commodities/rbi-opens-special-usd-window-for-these-3-state-run-omcs-facility-in-effect-from-oct-12-what-it-means-for-inr-support-11791620603159.html)

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USD vs INR: In a bid to support the Indian National Rupee (INR) against the US Dollar (USD), the Reserve Bank of India (RBI) has opened a special facility for the three state-run Oil Manufacturing Companies (OMCs). The facility will take effect on Monday, 12th October 2026. In this facility, the three oil PSUs — Indian Oil Corporation Ltd, Hindustan Petroleum Corporation Ltd, and Bharat Petroleum Corporation Ltd — will be able to meet the entire daily dollar requirement for oil purchases. The RBI made this announcement on Saturday, 10 October 2026.
The RBI made this announcement on Saturday, saying, "On the basis of an assessment of current market conditions, the Reserve Bank of India has decided to open a special window to meet the entire daily dollar requirements of three public sector oil marketing companies (OMCs), viz. Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited. Under the facility, the Reserve Bank will undertake the sale of USD to the public sector OMCs through designated bank/s. The facility will take effect on October 12, 2026 (Monday) and remain in place until further notice.
As mentioned above, the dollar window will be available for just three state-run OMCs — IOCL, HPCL, and BPCL.
On how these three OMCs will be able to contain the Indian Rupee's fall amid soaring crude oil prices, Sandeep Pandey, Co-founder of Basav Capital, said, “If you look at the percentage share of these three oil PSUs in the net petroleum products sale in India, they constitute around 90%. IOCL covers the maximum 40% shares, followed by the 30% share of BPCL and 20% share of HPCL. So, the petroleum product's sales data is enough to understand the share they have in the oil imports.”
On how this RBI's move will lend support to the weak Indian Rupee, Sandeep Pandey said, “In the current market system, oil companies need to buy the USD from the open market by converting the Indian Rupee into the USD, then they pay for the oil imports from the international markets. However, under the current system, OMCs will now buy USD from designated Indian banks rather than in the open market.”
The Basav Capital expert said that the Government of India (GoI) has now opened a window for the three OMCs to convert the Indian Rupee into the US dollar and vice versa.
On how the GoI will be able to meet this additional USD demand, Anuj Gupta, a SEBI-registered market expert, said, "The GoI has recently launched the FCNR bonds, which are a big hit. So, the USD received from FCNR bonds would be the primary source of USD for the Indian government. They can also generate USD by converting the deposits' swap.
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Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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