Step 1: Concept The Iodine Value (or Number) measures the degree of unsaturation (double bonds) in fats and oils.
Step 2: Meaning Higher unsaturation means more iodine or equivalent interhalogen can be absorbed.
Step 3: Analysis Wijs' solution, which is commonly used for this titration, consists of Iodine Monochloride (ICl) dissolved in glacial acetic acid.
Step 4: Conclusion ICl is the specific interhalogen compound employed for this chemical estimation.
Final Answer: (A)