Please confirm if following mentioned text is correct :-
In case of currency options ofcourse there is no concept of “Basis” (in Future contracts).
So if there is no currency option contract for the “date of Forex receipt/payment” , we have to consider the “exercise price” of the option contract which is immediately next to the forex receipt/payment date.
And we can consider that “exercise price” less premium amount to calculate the final inflow/ outflow of domestic currency. There is no need to adjust the exercise price with “basis”.