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One-month risk reversals on the Indian Rupee (INR), a gauge of calls to puts, stay negative for the fourth consecutive day, indicating investors are holding bullish bets for the INR.

This goes hand in hand with the  USD/INR moves that drops for the fourth consecutive day, currently down 0.37% around 72.74, while heading into Thursday’s European session.

Risk reversals currently flash the -0.125 level, favoring USD/INR bears by the press time, according to data provided by Reuters. The negative reading indicates put options are drawing higher premium (option price) than call or bullish bets

It should also be noted that the risk reversals jumped to the highest in favor of the Indian rupee bulls the previous day while flashing -0.150 figures.