According to CNBC, India on Saturday unveiled fresh measures to support the rupee by redirecting oil companies' dollar purchases away from the spot market and tightening hedging rules as the currency hovered near record lows. The Reserve Bank of India will open a special window to meet the daily dollar needs of three state-run oil-marketing companies — Indian Oil, Hindustan Petroleum and Bharat Petroleum — from Monday, and it also cut the limit on derivative transactions that can be done without proof of underlying exposure to $5 million from $100 million. The central bank said the steps are aimed at reducing pressure on the foreign exchange market, while the rupee has fallen more than 7% this year and strengthened about 0.6% in the non-deliverable forward market after the announcement.