Stablecoin dollar premium
What a dollar really costs, by country
The P2P street price of USDT next to the official exchange rate. The gap is the parallel-market premium, and it’s the real story in cross-border payments: where a stablecoin payout reaches a rate a bank can’t, and where stablecoins simply win on fees.
As of October 26, 2026 · Source: Binance P2P median USDT price vs. official USD FX rate · Methodology
| Country | USDT street | Official | Premium | What it means |
|---|---|---|---|---|
| 🇻🇪 Venezuela · VES | 1,007 | 887 | +13.4% | Large premium, indicating restricted FX or dollar scarcity |
| 🇮🇳 India · INR | 104 | 95.16 | +8.8% | Large premium, indicating restricted FX or dollar scarcity |
| 🇦🇷 Argentina · ARS | 1,642 | 1,528 | +7.4% | Large premium, indicating restricted FX or dollar scarcity |
| 🇹🇷 Turkey · TRY | 52.21 | 49.79 | +4.9% | Moderate premium above the official rate |
| 🇻🇳 Vietnam · VND | 26,376 | 25,817 | +2.2% | Moderate premium above the official rate |
| 🇵🇭 Philippines · PHP | 63.95 | 63.68 | +0.4% | Free-floating market, near parity with the official rate |
| 🇰🇪 Kenya · KES | 130 | 130 | +0.3% | Free-floating market, near parity with the official rate |
| 🇮🇩 Indonesia · IDR | 18,131 | 18,090 | +0.2% | Free-floating market, near parity with the official rate |
| 🇲🇽 Mexico · MXN | 18.75 | 18.72 | +0.2% | Free-floating market, near parity with the official rate |
| 🇨🇴 Colombia · COP | 3,140 | 3,170 | -1.0% | Free-floating market, near parity with the official rate |
How to read this. Premium = the median P2P price of USDT versus the official USD rate. A large positive premium means the official rate is propped up and dollars trade at a markup on the street, common under capital controls. For an inbound payout, converting a stablecoin at that parallel rate delivers more local currency than a bank stuck on the official rate, so stablecoins are transformative there, not just cheaper. Near zero, the market is free-floating and stablecoins win on fees and speed. Sourced daily from P2P markets; coverage expands over time.
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