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 September 10, 2026 · Source: Binance P2P median USDT price vs. official USD FX rate · Methodology
| Country | USDT street | Official | Premium | What it means |
|---|---|---|---|---|
| 🇻🇪 Venezuela · VES | 963 | 828 | +16.3% | Large premium, indicating restricted FX or dollar scarcity |
| 🇮🇳 India · INR | 103 | 95.12 | +8.7% | Large premium, indicating restricted FX or dollar scarcity |
| 🇦🇷 Argentina · ARS | 1,586 | 1,515 | +4.7% | Moderate premium above the official rate |
| 🇹🇷 Turkey · TRY | 50.40 | 48.51 | +3.9% | Moderate premium above the official rate |
| 🇰🇪 Kenya · KES | 132 | 129 | +2.0% | Moderate premium above the official rate |
| 🇿🇦 South Africa · ZAR | 16.26 | 16.00 | +1.6% | Moderate premium above the official rate |
| 🇲🇽 Mexico · MXN | 16.93 | 16.90 | +0.2% | Free-floating market, near parity with the official rate |
| 🇮🇩 Indonesia · IDR | 17,491 | 17,505 | -0.1% | Free-floating market, near parity with the official rate |
| 🇵🇭 Philippines · PHP | 62.47 | 62.52 | -0.1% | Free-floating market, near parity with the official rate |
| 🇨🇴 Colombia · COP | 3,090 | 3,107 | -0.5% | Free-floating market, near parity with the official rate |
| 🇻🇳 Vietnam · VND | 25,707 | 25,969 | -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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