Post
Topic
Board Economics
Topic OP
Why are Rubles trading at a 10% discount on Binance?
by
nibor
on 01/03/2022, 22:22:30 UTC
https://www.binance.com/en/trade/USDT_RUB?layout=pro

USDT/RUB is at 98.82 when the FX Spot is about 108.

Why?

Anyone got any ideas? What does it mean?

As is a nice arbitrage if you have a RUB bank account and can FX RUB->USD and transfer the USD back onto Binance.

Or are Binance restricting RUB withdrawals?

So can only mean there is a lot of crypto holders who want RUB in a bank account. Which seems odd to me... would expect there to be the opposite at the moment...