India Sees Unusually High Premiums on Tether's USDT Stablecoin

Tether's USDT stablecoin is trading at an unusually high premium on Indian crypto exchanges.

The premium, which normally ranges between 3% and 4%, has risen to 7-10% above face value in India. This means that buyers are paying extra rupees for dollar exposure via USDT instead of through a bank.

CoinDCX executive vice president Minal Thukral attributed the premium to local order-book depth relative to the global dollar reference price, saying 'the market clears higher' when demand outpaces available liquidity.

CoinSwitch co-founder and CEO Ashish Singhal also explained that the premium is not unique to any single platform but reflects broader market dynamics, including liquidity conditions and the availability of dollar-backed digital assets.