Why is USDT P2P on Binance trading at ₹104-105 when the actual market exchange rate is ~₹96? Any way to avoid this?

Hey everybody,

​I'm making an attempt to start out investing in crypto on Binance, however each time I take a look at the USDT P2P market, the prices are extremely inflated.

​Proper now, the precise market change fee of USD to INR makes USDT value round ₹96, but the absolute least expensive sellers on Binance P2P are selling it at ₹104 to ₹105. That's an on the spot ~10% hit to my capital before I even begin buying and selling.

​I have a couple of questions for the group:

​Why is the premium so high right now? Is it purely on account of excessive demand and the banking restrictions on direct fiat deposits, or is one thing else driving this large hole?

​Does this truly eat 10% of my portfolio? Since I'm shopping for excessive, do I additionally get to sell at this similar inflated P2P premium when cashing out to INR, or is there a lure I'm missing?

​What's the greatest various to bypass this premium? Are you guys using FIU-compliant Indian exchanges to deposit INR at spot charges and transferring low-fee coins (like TRX/XRP) to Binance, or is there a better gateway?

​Recognize any advice on how you can get my Rupees into crypto with out immediately dropping 10% of my purchasing power. Thanks!