Indian rupee leads Asia currencies, boosted by news from oil exchange window.

The Indian rupee is one of the top gainers among Asian currencies, with reports suggesting that the Reserve Bank of India has asked state-owned oil refining companies to purchase US dollars through a special credit arrangement. On Friday, the rupee briefly rose by 0.5% to 92.7738 rupees per US dollar. According to media reports citing unnamed sources, the RBI has instructed oil refining companies to access special forex credit lines through the country's largest bank, State Bank of India, in order to meet their foreign exchange needs. The reports also quoted a source as saying that the authorities are encouraging companies to purchase foreign exchange through State Bank of India rather than operating through multiple banks. Anshul Chandak, head of treasury at private Indian bank RBL Bank, said, "The news that the RBI is asking state-owned oil refining companies to purchase forex through a special window instead of the open market has led to a lower opening of the USD/rupee exchange rate. At the same time, the optimistic expectation in the market that negotiations between the US and Iran will be extended is also providing support."