Rupee Nears Record Low of ₹100: How It Affects Indian Crypto Traders

The Indian rupee has slipped to its lowest level in two months, nearing ₹100 against the US dollar. This weakness could give Indian crypto traders holding USDT a significant boost when withdrawing their dollar-linked profits.

When the rupee is valued at ₹90 per dollar, 10,000 USDT will be worth ₹9 lakh. But with the current exchange rate of ₹96.08, the same amount is now worth ₹9.6 lakh. If the rupee further weakens to ₹100, the USDT conversion will reach ₹10 lakh.

This means that Indian traders get a notable INR cash cushion when they withdraw their dollar-linked gains. However, tax rules remain an important hurdle for traders. The Income Tax Department levies 30% tax on VDA gains and a 1% TDS on certain transfers.