USDT to INR today: live P2P rate in India
Indian rupee · updated 27 Oct 2026, 15:01 UTC · refreshed every 90 seconds
Price by order size (buy)
By platform
| Platform | 1,000 USDT avg | 1,000 in one order | Best for 100 | Ads | Depth |
|---|---|---|---|---|---|
| Binance P2P | 103.49 | 103.49 | 103.49 | 40 / 4 filtered | |
| OKX P2P | — | — | — | 0 / 0 filtered | |
| Bybit P2P | 104.32 | — | 104.30 | 5 / 2 filtered | |
| Bitget P2P | 103.51 | 103.60 | — | 19 / 5 filtered | |
| HTX P2P cheapest | 106.00 | 106.00 | 106.00 | 15 / 12 filtered |
Payment methods sellers accept in India
Trend
1,000 USDT buy average per collection cycle. Daily history →
P2P in India: what the rules say
India has neither a crypto statute nor a crypto regulator. The working rulebook is anti-money-laundering law: a virtual digital asset service provider (VDA SP) is a reporting entity under the Prevention of Money Laundering Act, 2002, which means registering with the Financial Intelligence Unit (FIU-IND) and keeping and reporting transaction records. FIU-IND applies this to offshore platforms serving Indians. After a show-cause notice dated 28 December 2023, its order of 19 June 2024 fined Binance Rs 18,82,00,000 for serving Indian clients without meeting those duties and directed it to comply with Chapter IV of the Act. Buying and holding crypto is neither prohibited nor expressly permitted: the Reserve Bank's 2018 instruction barring regulated entities from crypto dealings was set aside by the Supreme Court in March 2020.
How people pay: UPI, Digital eRupee, IMPS
- UPI is the default rail. NPCI describes it as immediate transfer from a phone, available 24×7 on all 365 days, with one app able to reach several bank accounts.
- Digital eRupee (e₹) is the Reserve Bank's retail CBDC. RBI's FAQ says a person-to-person payment between two e₹ wallets settles instantly without passing through either bank account, wallets are linked to a savings account at one of the participating banks, and using them is free. If you scan a UPI QR from the e₹ app instead, settlement follows UPI timelines instead of settling wallet to wallet.
- IMPS moves money between banks instantly, 24×7, using the beneficiary's account number and IFSC. NPCI puts the per-transaction limit at Rs 5 lakh on all channels except SMS and IVR, and your own bank's channel limit still applies.
The common pitfall on the selling side is a frozen account. Binance's support page on the subject says several P2P sellers had their bank accounts frozen after buyers who had been defrauded elsewhere reported the payment to local authorities, and the innocent seller was caught in the same action. It recommends a separate bank account for P2P, fewer simultaneous orders, and going to your bank and the authorities with the order records if a freeze happens.
Tax and reporting
The Income Tax Department's VDA reckoner sets out the rules. Income from transferring a virtual digital asset is taxed at a flat 30% plus surcharge and cess, with no deduction other than cost of acquisition and no set-off of losses. A person paying a resident for a VDA must deduct 1% TDS, unless the payment does not exceed Rs 50,000 (individuals and HUFs below the business or professional turnover limits, or with no such income) or Rs 10,000 (all other payers). The reckoner cites the Income-tax Act, 1961; CBDT's transition FAQs say income earned from 1 April 2026 is governed by the Income-tax Act, 2025, whose corresponding provisions apply to tax year 2026-27.
Sources
- FIU-IND — Order-in-Original No. 10/DIR/FIU-IND/2024 (Binance), 19 June 2024 (accessed 2026-10-27)
- Wikipedia — Legality of cryptocurrency by country or territory (India) (accessed 2026-10-27)
- NPCI — About UPI (accessed 2026-10-27)
- Reserve Bank of India — Digital Rupee (e₹) FAQs (accessed 2026-10-27)
- NPCI — About IMPS (limit FAQ) (accessed 2026-10-27)
- Binance Support — How to Prevent My Bank Account from Being Frozen in P2P Transactions (accessed 2026-10-27)
- Income Tax Department — Taxation of Virtual Digital Asset (VDA) reckoner (accessed 2026-10-27)
- Income Tax Department — Income-tax Act, 2025 and CBDT transition FAQs (accessed 2026-10-27)
Questions people ask
What is the USDT to INR rate today?
Right now buying 1,000 USDT on P2P costs about 103.17 INR per USDT (103,168 INR in total). Selling 1,000 USDT gets about 104.98 per USDT. Updated 27 Oct 2026, 15:01 UTC.
Why is the P2P price different from the official exchange rate?
The official mid rate is 95.161 INR per dollar. P2P sellers price in local demand for dollars, payment risk and their margin, so the P2P price is 8.41% above the official rate at the moment.
Which platform is cheapest for USDT in India right now?
HTX P2P has the best eligible price for a 1,000 USDT order in the latest observation. Platforms change places during the day; the table above is refreshed every 90 seconds for INR.
Is crypto legal in India?
India neither prohibits nor expressly permits crypto investment, and it has no dedicated crypto regulator. The Supreme Court set aside the Reserve Bank's 2018 banking restriction in March 2020. Platforms that serve Indian users are treated as reporting entities under the Prevention of Money Laundering Act, 2002 and must register with FIU-IND; in June 2024 FIU-IND fined Binance Rs 18.82 crore for serving Indian clients without meeting those duties. Gains are taxed under the virtual digital asset rules.
What is TDS on crypto in India?
Under the Income Tax Department's VDA reckoner, a person paying a resident for a virtual digital asset deducts 1% TDS. No TDS is required if the payment does not exceed Rs 50,000 where the payer is an individual or HUF below the business or professional turnover limits, or has no such income, and Rs 10,000 for all other payers. The reckoner is written against the Income-tax Act, 1961; for sums paid from 1 April 2026, CBDT says the corresponding provisions of the Income-tax Act, 2025 apply.
Is Binance P2P safe in India?
Binance itself flags bank account freezes as a risk for P2P sellers. Its support page says some sellers had accounts frozen after a buyer who had been scammed elsewhere complained to the authorities, which caught the seller too. Binance suggests using a separate bank account for P2P, avoiding many simultaneous orders, and contacting your bank and the authorities with the order records if a freeze happens. Separately, Binance was fined by FIU-IND in June 2024 for compliance failures.