Svmuu News: The supply of USDT in India has tightened, causing the local stablecoin premium to rise from the usual 3% to 4% to over 8.5%. On Saturday, USDT was trading at 102.88 Indian rupees, while the U.S. dollar closed at 94.65 against the Indian rupee on Friday.
Reports indicate that reduced USDT inflows and concerns about a further slowdown stem from the Executive Board’s crackdown on fund transfers totaling 250 billion Indian rupees conducted via virtual digital assets. Purushottam Anand, founder of Crypto Legal, said the recent surge may partly reflect a risk premium driven by regulatory uncertainty. (economictimes)
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USDT Premium in India Rises to Over 8.5%
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