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, however each time I take a look at the USDT P2P market, the prices are incredibly inflated.

​Proper now, the actual market change price of USD to INR makes USDT value around ₹96, however the absolute least expensive sellers on Binance P2P are selling it at ₹104 to ₹105. That is an prompt ~10% hit to my capital before I even start buying and selling.

​I have a couple of questions for the group:

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

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

​What is 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 cash (like TRX/XRP) to Binance, or is there a better gateway?

​Recognize any advice on how one can get my Rupees into crypto without immediately dropping 10% of my buying energy. Thanks!