The Reserve Bank of India (RBI) has opened a designated foreign exchange window to meet the complete daily dollar requirements of three state-run oil marketing companies, according to an official statement issued by the central bank. The facility covers Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation.

The special window will begin operations on October 12, 2026, and remain available until further notice. The RBI said the decision followed its assessment of prevailing conditions in the currency and financial markets.

Under the arrangement, the RBI will sell US dollars to the public sector oil marketing companies through designated authorised dealer banks. The refiners will therefore access their required foreign currency through the institutional banking mechanism rather than seeking dollars through direct open-market bidding.

The facility is intended to cover the companies’ full daily foreign exchange requirements. Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation are the three public sector oil marketing companies included in the arrangement.

The RBI’s intervention comes as state-run refiners manage substantial dollar requirements linked to crude oil purchases and other international payments. By routing the transactions through designated banks, the central bank has established a specific channel for meeting the companies’ requirements while retaining operational oversight of the foreign exchange sales.

The central bank did not specify an end date for the facility, stating that it would continue until further notice. The arrangement will take effect from October 12, which falls on a Monday, and applies to the daily foreign currency demand of all three participating oil marketing companies.