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USD/INR call bias strongest since 2013

Risk reversals on USD/INR, a gauge of calls to puts, rose to a seven-year high of 2.65 on Thursday, indicating the investors are adding bets to position for a rally in USD/INR (weakness in the Indian rupee).

A positive number indicates the demand for the call options (bullish bets) is greater than that for the put options (bearish bets).

The gauge has surged by in a near 90-degree manner from 0.425 to 2.65 over the last three weeks or so. 

On Thursday, the rupee fell beyond 75 per US dollar to set a new low amid the global dash for the greenback. 

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