Continuing story · 1 report

RBI dollar cover for three oil firms

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Where it stands

The RBI’s arrangement to meet the three state-run oil firms’ daily dollar needs began on October 12, alongside tighter currency-derivative rules. The rupee rose about 1% in early trading that day; the report does not establish how the arrangement is operating beyond its start or whether it has eased underlying pressure.

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Story trackerDay 6

1 report31 outlets50 sources1 video

  • No dated events yet
  1. Update 1Rupee rebounds about 1% as RBI shifts oil firms’ dollar demand

The story so far

  1. Update 1

    Rupee rebounds about 1% as RBI shifts oil firms’ dollar demand

    Dedicated dollars for three oil companies and sharply tighter derivative rules brought an early rebound. Actual facility use and the lasting effect remain unproven.

    Still open after this report

    • Actual dollar-window drawdowns, complete derivative operating terms and measured changes in customer hedging costs remain unestablished.

History

  1. Opened1 report

Who's involved

Organizations

  • Bharat PetroleumIndian oil and gas company1 report
  • Reserve Bank of Indiacentral bank of India1 report

Places

  • IndiaIndia1 report
  • MumbaiMumbai, Maharashtra, India1 report

Promises

Promised in this story: 3Partly kept 2Due, not yet checked 1

  • Due, not yet checkedRBI: Starting October 12, the RBI will cover the entire daily dollar needs of Bharat Petroleum until further notice.Due
  • Partly keptRBI: Starting October 12, the RBI will cover the entire daily dollar needs of Hindustan Petroleum until further notice.Due
  • Partly keptRBI: Starting October 12, the RBI will cover the entire daily dollar needs of Indian Oil until further notice.Due

Every outlet we read on this story

50 sources31 outlets1 video1 wire copy