This paper presents a detection method for arbitrary magnetic induction and electric current waveform measurement that uses two orthogonally polarized light beams for sensing the Faraday rotation. A procedure is proposed for setting the maximum sensitivity for a sensor with a Faraday crystal that possesses optical activity. Accuracy improvement is achieved by using YVO 4 beam displacer instead of polarising prism. The results of the optical magnetic field and corresponding electric current measurements are presented and compared to current measurement by shunt. The Verdet constant of the Faraday crystal is determined and calibration of the sensing system is performed.
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