RBI steps in to support the Rupee
Mumbai: The Reserve Bank of India (RBI) announced several key measures on Saturday to curb the depreciation of the rupee. It stated that a special dollar window is being established so that public sector Oil Marketing Companies (OMCs) do not have to rely on the spot market for the daily dollar requirements needed for oil imports. This special facility will become operational on the 12th of this month. The RBI will sell dollars to the OMCs through designated banks.
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