$250 Million Option Deals On Debut

The dollar-rupee options instrument made a debut today, registering a volume of $200-250 million as banks and companies rushed to strike deals in the new derivative instrument to hedge exchange rate risks.

Reliance Industries is understood to have entered into the maximum number of deals, worth over $75 million.

JP Morgan Chase struck the longest-dated deal with a five-year $10 million currency option one with HDFC as the counter-party.