RBI in no rush to taper dollar window to oil firms: Rajan

Mumbai: The Reserve Bank of India (RBI) has allowed state-run oil companies to start purchasing dollars from markets but will not rush the process of tapering its dollars swap window to these companies, Governor Raghuram Rajan said on Wednesday.

Rajan added the RBI will choose the most appropriate solution to settling the dollar swaps with oil companies when the time comes.

The governor also cited the option of rolling over some portion of the oil company dollar swaps if market conditions are not stable.

He also highlighted that food inflation remains "worryingly" high but said core consumer price inflation is heartening, and said the momentum for core CPI is downwards.