Is it a N (naked) or S (fairing) model?
47 mpg for a 20 mi ride in heavy traffic isn't bad. If it's slow-going and start and stop, any aero aids aren't going to show big improvements.
I have 2 SV650s - a 1st gen ('00 - carbed) and 2nd gen ('06 - F.I.) - both nakeds. The 2nd gen will get about 55 mpg at 75 mph on ethanol-free 87 (about 5% better than gas with ethanol). I have also geared it up 1T on the countershaft sprocket, which smoothed the cruise significantly but didn't give a significant increase in mpg. Best I've got is 62 during some moderate backroad riding.
I haven't ridden the 1st gen enough to get any numbers (I bought it as a non-running and partially disassembled project bike), but generally they don't do quite as well as the 2nd gen in mpg.
For your situation, I would concentrate on throttle-opening. Try to reduce the amount of throttle-opening as much as possible. When you have the chance, try to get into as high of gear as possible - then cruise with as small of throttle opening as possible. Less RPMs are good, but I feel that less throttle opening is more important.
Run regular (87 octane) gas, without ethanol is best - but I bet it's not available for you. A non-O-ring chain would reduce drag but give you less lifespan.
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