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RBI Opens Dollar Window For Oil Firms, Curbs Hedging To Defend Rupee - illustrated Daily News

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DW NOTE

The RBI is rationing dollars to oil importers while simultaneously restricting their ability to hedge currency risk — a combination that guarantees either interrupted supply or currency losses, possibly both. India imports 85% of its oil; with Brent at $104 and the Strait of Hormuz closed 224 days, this isn't monetary policy, it's triage with no good options.

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The United States has not pressured India to cut crude oil imports from Russia, Indian Oil Minister Hardeep Singh Puri said on Tuesday, as Russian cargo arrivals to the world’s third-largest crude oil importer have declined in recent weeks amid an increase in imports from the Middle East. India’s pu

RBI Opens Dollar Window For Oil Firms, Curbs Hedging To Defend Rupee - illustrated Daily News

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