b) The options shall be premium styled European call and put options.
c) The size of each contract shall be USD 1000.
d) The premium shall be quoted in Rupee terms. The outstanding position shall be in USD.
e) The maturity of the contracts shall not exceed twelve months.
f) The contracts shall be settled in cash in Indian Rupees.
g) The settlement price shall be the Reserve Bank’s Reference Rate on the date of expiry of the contracts.