✉news BusinessBanking first seen 2 d ago, last 2 d ago, peak #22
India grants three oil firms direct dollar access to support rupee
India has granted three state oil firms direct access to the dollar market, a move aimed at easing pressure on the rupee. By allowing the refiners to buy dollars directly rather than through banks, the government hopes to reduce demand on scarce foreign exchange and steady the currency.
Why now: The rupee has been under sustained pressure, so steps to defend it are drawing attention.
IndiarupeeIndian state oil firms
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- India grants three oil firms direct dollar access to support rupee · Nation Thailand
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