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

​Proper now, the actual market trade price of USD to INR makes USDT value round ₹96, however the absolute least expensive sellers on Binance P2P are selling it at ₹104 to ₹105. That's an prompt ~10% hit to my capital earlier than I even begin trading.

​I have a couple 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 gap?

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

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

​Recognize any recommendation on learn how to get my Rupees into crypto with out instantly dropping 10% of my purchasing energy. Thanks!