RBI’s oil forex window set to fuel rupee recovery

Mumbai: The Reserve Bank of India has opened an exclusive foreign exchange window for supplying dollars to state-run refiners, easing pressure on the spot exchange rate, currency analysts, bankers and traders told ET. It’s likely routed through state-run lenders such as the State Bank of India, they said.The central bank has used this strategy previously to ease pressure on the rupee--during the socalled taper tantrum of 2013, the Russian-Ukraine war and on occasions when demand from oil compani...