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 costs are extremely inflated.

​Proper now, the precise market trade fee of USD to INR makes USDT value round ₹96, however the absolute least expensive sellers on Binance P2P are promoting it at ₹104 to ₹105. That is an on the spot ~10% hit to my capital earlier than I even start trading.

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

​Why is the premium so high right now? Is it purely as a result 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 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 is 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 cash (like TRX/XRP) to Binance, or is there a better gateway?

​Respect any recommendation on how one can get my Rupees into crypto with out instantly dropping 10% of my buying energy. Thanks!