The Reserve Bank of India (RBI) today clarified that it has no plans to withdraw the special dollar swap window opened for oil companies. In a statement issued today from Mumbai the central bank has confirmed that oil marketing companies' swap window will continue to remain operational. It further stated that any tapering of the window, as and when it occurs, will be done in a standardize manner. The oil marketing companies are the biggest buyers of dollars to meet their crude oil imports. The RBI had introduced this special swap window on August 28, after the rupee hit a life-time low of 68.85. The special swap window takes away the oil marketeers' demand off the market.
News On AIR | October 18, 2013 4:58 PM
RBI: No plans to withdraw special dollar swap window for oil companies<br/>