India's USDT Premium Hits Record 6.40% as Price Tops ₹100
- —Premium rose from 2.74% on Oct. 12 to 5.37% on Oct. 16 and 6.40% on Oct. 19
- —Intraday index hit 6.68% on Oct. 19, with USDT near ₹101.20
- —USDC premium was even higher at 7.43%, priced at ₹101.997
- —Index uses CoinDCX, Giottus and KoinBX prices; 30-day average is 4.14%
Why it matters: The widening gap signals scarce dollar liquidity and capital controls in India, distorting arbitrage and pricing for local traders.
Source: The Crypto Times