Thursday, 29 August 2013

RBI opens special window for forex purchase by oil cos

The PSU oil companies are the biggest buyers of dollars, requiring USD 8-8.5 billion every month for the import of an average 7.5 million tonnes of crude oil. The RBI decision is aimed at curbing volatility in the forex market.

http://www.moneycontrol.com/news/economy/rbi-opens-forex-swap-window-for-state-oil-retailers_941915.html

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