On the basis of assessment of current market conditions, Reserve Bank of India has decided to open a forex swap window to meet the entire daily dollar requirements of three public sector oil marketing companies (IOC, HPCL and BPCL). Under the swap facility, Reserve Bank will undertake sell/buy USD-INR forex swaps for fixed tenor with the oil marketing companies through a designated bank. The swap facility gets operationalized with immediate effect and will remain in place until further notice.

Alpana Killawala

Principal Chief General Manager

Forex swap window provides immediate foreign exchange swap access for public sector oil marketing companies to meet daily requirements. The Reserve Bank of India has opened a forex swap window to meet the entire daily foreign exchange requirements of three public sector oil marketing companies by undertaking sell/buy foreign exchange swaps of fixed tenor through a designated bank; the facility is effective immediately and will remain in place until further notice.