FX Week

Indian options market bursts into life

Standard Chartered Bank said it had transacted deals to the value of $90 million, including the first to be executed – a six-month $30 million deal with Mumbai-based oil, gas and petrochemicals firm Reliance Industries.

ABN Amro, another large global bank in the market, said it had dealt options worth about 20% of the total ($50 million).

Citigroup said it had dealt over $40 million in rupee/foreign currency options on July 7, with 10 different corporates, while JP Morgan Chase offered the lo