Economic TimesLean R·
RBI to meet dollar needs of 3 state-run oil firms
New Delhi | Mumbai: The Reserve Bank of India (RBI) has announced that it will meet the entire daily dollar requirements of Indian Oil, Bharat Petroleum and Hindustan Petroleum from October 12, taking one of the foreign-exchange market's largest recurring sources of dollar demand off the market as it seeks to ease pressure on the rupee.The three state-run refiners and oil marketing companies (OMCs) could need roughly $200 million daily for crude and petroleum imports, according to estimates bas…
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