ETH to USDT: Ethereum vs Tether in rupee terms
1 ETH =
2,395.48 USDT
1 ETH = ₹2,26,660 · 1 USDT = ₹94.62 · 1 USDT = 0.00041745 ETH
Snapshot 23 October 2026; updating to live…
Over the 12 months to 23 Oct 2026, Ethereum lost 37.7% against USDT: the ratio went from 3,855.84 USDT to 2,403.02 USDT per ETH. In rupees, ETH fell 32.9% (from ₹3,38,773.75 to ₹2,27,374.14) while USDT rose 7.7% (from ₹87.86 to ₹94.62). Because USDT tracks the US dollar, this ratio is close to Ethereum's dollar price; the rupee quotes add the USD/INR rate.
The pair in numbers
- Highest ratio: 4,158.21 USDT on 27 Oct 2025. Lowest: 1,567.92 USDT on 26 Jun 2026. Today's ratio is 42.2% below the high.
- Change against USDT: -12.7% over 30 days, +29.1% over 90 days, -37.7% over 12 months.
- ₹1 lakh put into ETH on 24 Oct 2025 would be worth about ₹67,117 now; the same in USDT, about ₹1,07,694 (before fees, spreads and tax).
- Daily moves: correlation 0.02 (they often move independently); a 1% move in USDT came with about 0.22% in ETH on average. Volatility about 61% a year for ETH and 7% for USDT.
- ETH gained against USDT on 186 of 364 days (51%).
Month-end ratio
| Month | USDT per ETH | Change | ETH (₹) | USDT (₹) |
|---|---|---|---|---|
| Oct 2026 (so far) | 2,403.02 | -10.3% | ₹2,27,374.14 | ₹94.62 |
| Sept 2026 | 2,678.24 | +10.8% | ₹2,57,165.06 | ₹96.02 |
| Aug 2026 | 2,416.51 | +25.9% | ₹2,30,462.35 | ₹95.37 |
| Jul 2026 | 1,918.88 | +19.1% | ₹1,83,482.9 | ₹95.62 |
| Jun 2026 | 1,611.72 | -20.4% | ₹1,52,387.91 | ₹94.55 |
| May 2026 | 2,023.9 | -10.2% | ₹1,92,088.32 | ₹94.91 |
| Apr 2026 | 2,254.56 | +11.3% | ₹2,13,551.55 | ₹94.72 |
| Mar 2026 | 2,025.42 | +4.9% | ₹1,89,214.3 | ₹93.42 |
| Feb 2026 | 1,931.04 | -28.6% | ₹1,75,879.55 | ₹91.08 |
| Jan 2026 | 2,706.24 | -8.9% | ₹2,47,810.29 | ₹91.57 |
| Dec 2025 | 2,970.97 | -0.6% | ₹2,67,060.17 | ₹89.89 |
| Nov 2025 | 2,988.81 | -21.4% | ₹2,67,139.92 | ₹89.38 |
| Oct 2025 | 3,800.78 | — | ₹3,37,736.88 | ₹88.86 |
How this ratio is worked out, and its limits
The ratio is Ethereum's daily rupee close divided by Tether's on the same UTC day, both from CoinGecko's global INR averages (365 shared days). It is not a quote from any exchange's ETH/USDT order book: real pair quotes include spreads and fees, and Indian exchange prices can sit above or below the global average. Past ratios do not predict future ones. Full method: methodology.
Swapping ETH for USDT is a taxable transfer in India: Schedule VDA guide · tax calculator.
FAQ
How much is 1 ETH in USDT?
At the 23 October 2026 snapshot, 1 Ethereum (ETH) was worth 2,395.48 USDT, because 1 ETH cost ₹2,26,660 and 1 USDT cost ₹94.62. Put the other way, 1 USDT = 0.00041745 ETH. The live ratio at the top of this page refreshes every 60 seconds.
Live now: — (refreshes every 60 seconds)
Did ETH beat USDT over the last year?
In rupee terms Ethereum went down 32.9% and Tether up 7.7% between 24 Oct 2025 and 23 Oct 2026, so ETH lost 37.7% against USDT (daily closes, UTC). ₹1 lakh in ETH would have become about ₹67,117; in USDT, about ₹1,07,694.
Is swapping ETH for USDT taxed in India?
Yes. A crypto-to-crypto swap is a transfer of a virtual digital asset, so any gain on the ETH you give up, valued in rupees at the time of the swap, is taxed at 30% plus 4% cess, losses cannot be set off, and 1% TDS can apply to the transfer. Keep the INR value of both legs for your Schedule VDA.
Can I trade ETH directly against USDT in India?
It depends on the exchange. This page does not check listings. If your exchange has no direct ETH/USDT market you would go through INR or USDT, which means two trades, two sets of fees and two taxable transfers.