Deutsche Bank on Monday completed the first forex option transaction in India. The transaction, which was a 6-month dollar/rupee risk reversal, was inked by Deutsche Bank for Reliance in Mumbai, an official release said.

Chetankumar Shah, head of global markets for Deutsche Bank India, said, "This transaction marks the first time a corporate has been able to hedge its rupee exchange rate risk in India with options. It is a positive step in the increasing sophistication of financial markets tools available to manage risk, including currency exposure in India."