USDT Price Skyrockets in India as Stablecoin Shortage Tightens

The price of USDT in India has surged to an 8.5% premium over the official dollar rate, signaling a sharp local shortage of the dollar-pegged stablecoin.

This sudden tightening of supply has pushed the price of Tether's USDT above its global value, with a single token trading at INR 102.88, compared to an official USD/INR exchange rate of around 94.65.

India is the world's most active crypto market, ranking first in global adoption for the third year running. Tether plays a significant role here, as many traders and long-term holders use USDT to move between positions and preserve dollar value without touching the banking system.