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

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

​I have a number of questions for the group:

​Why is the premium so high right now? Is it purely resulting from excessive 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 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 lacking?

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

​Respect any advice on how one can get my Rupees into crypto with out instantly dropping 10% of my purchasing power. Thanks!