The state-run oil marketing company has been selling 2025 oil bonds since Thursday.
"We have done four deals so far and the daily proceeds have been about $220 million," the executive added.
The central bank had bought Rs 945 crore of the 2025 oil bond at 8.61 per cent on Friday, compared with 8.75-8.76 per cent this week.
Through special open marketing operations, RBI makes outright purchases or repurchases of oil bonds from state-run oil marketing companies and provides dollars through a designated bank.
State-run oil refiners will get dollars at the central bank's reference exchange rate.
The special open market operations are meant to provide liquidity to cash-strapped state-run oil marketing companies hit by high global crude oil prices.
The RBI said it would provide around Rs 10 billion daily to these companies through such deals.
