India's USDT Premium Surges Above 8.5% as Regulatory Pressure Tightens Stablecoin Supply

According to P2P transaction data, as of June 30, India's USDT premium has surged above 8.5%, with Tether trading at ₹102.88 against an official USD/INR rate of ₹94.65. The spike stems from regulatory enforcement actions that have constrained domestic stablecoin supplies and discouraged fresh capital inflows.

P2P markets reflected the imbalance: buy volume reached only $1.2 million against $17.8 million in sell volume, with over 140,000 daily transactions at approximately ₹107.21 per USDT. Market makers face reduced capacity amid the supply shortage, while demand for cross-border payments and dollar-backed value storage remains resilient.