India

USD/INR remains close to its recent upper range as broad dollar demand, elevated WTI crude oil prices and cautious global sentiment keep traders alert. Market participants are watching whether the pair can sustain buying interest above nearby support or face another sudden reversal.

India has moved tokenization further into regulated finance with Demat 2.0, a pilot that issues corporate bonds as digital tokens and settles payments through the Reserve Bank of India’s wholesale digital rupee. REC, Larsen & Toubro and IIFL Finance have already raised a combined ₹1,025 crore through the system, while later phases are expected to support secondary trading and broader investor access.

USD/INR is trading near 95.6700 as August begins, holding close to recent elevated territory after touching nearly 96.6680 last Friday. FXCOINZ examines why technical traders are watching a potential 94.9000 to 97.2000 range as energy costs, Reserve Bank of India influence and fragile global sentiment drive the outlook.

Tether’s USDT stablecoin is trading at an unusually high premium on Indian crypto exchanges, with some market participants seeing prices well above the usual one-dollar peg. Executives at CoinDCX and CoinSwitch say the gap is being driven by demand and supply imbalances, not exchange pricing tactics or hidden fees.

Binance is contesting an $86 million showcause notice issued by Indian tax authorities, alleging non-compliance with Goods and Services Tax (GST) regulations. The exchange asserts that its operations comply with local laws and is engaging in discussions with authorities to resolve the issue. This development highlights the complex regulatory landscape for cryptocurrencies in India and could significantly impact the local crypto market.