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

Hey everyone,

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

​Proper now, the precise market change price of USD to INR makes USDT value around ₹96, but the absolute least expensive sellers on Binance P2P are promoting it at ₹104 to ₹105. That is an immediate ~10% hit to my capital earlier than I even begin buying and selling.

​I've a number of questions for the group:

​Why is the premium so high right now? Is it purely on account of high 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 also 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 utilizing FIU-compliant Indian exchanges to deposit INR at spot rates and transferring low-fee coins (like TRX/XRP) to Binance, or is there a better gateway?

​Respect any recommendation on methods to get my Rupees into crypto without instantly dropping 10% of my purchasing energy. Thanks!