USDY to USDT: Ondo US Dollar Yield vs Tether in rupee terms
1 USDY =
1.1509 USDT
1 USDY = ₹108.9 · 1 USDT = ₹94.62 · 1 USDT = 0.86887 USDY
Snapshot 23 October 2026; updating to live…
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Over the 12 months to 23 Oct 2026, Ondo US Dollar Yield gained 4.3% against USDT: the ratio went from 1.1037 USDT to 1.1514 USDT per USDY. In rupees, USDY rose 12.4% (from ₹96.97 to ₹108.95) while USDT rose 7.7% (from ₹87.86 to ₹94.62). Because USDT tracks the US dollar, this ratio is close to Ondo US Dollar Yield's dollar price; the rupee quotes add the USD/INR rate.
The pair in numbers
- Highest ratio: 1.3601 USDT on 26 Mar 2026. Lowest: 1.069 USDT on 11 May 2026. Today's ratio is 15.3% below the high.
- Change against USDT: +0.4% over 30 days, +1.2% over 90 days, +4.3% over 12 months.
- ₹1 lakh put into USDY on 24 Oct 2025 would be worth about ₹1,12,354 now; the same in USDT, about ₹1,07,694 (before fees, spreads and tax).
- Daily moves: correlation 0.13 (they often move independently); a 1% move in USDT came with about 0.66% in USDY on average. Volatility about 32% a year for USDY and 7% for USDT.
- USDY gained against USDT on 179 of 364 days (49%).
Month-end ratio
| Month | USDT per USDY | Change | USDY (₹) | USDT (₹) |
|---|---|---|---|---|
| Oct 2026 (so far) | 1.1514 | +0.3% | ₹108.95 | ₹94.62 |
| Sept 2026 | 1.1475 | +0.3% | ₹110.18 | ₹96.02 |
| Aug 2026 | 1.1443 | +0.3% | ₹109.13 | ₹95.37 |
| Jul 2026 | 1.1413 | +0.3% | ₹109.13 | ₹95.62 |
| Jun 2026 | 1.1381 | +0.4% | ₹107.61 | ₹94.55 |
| May 2026 | 1.1334 | +0.2% | ₹107.57 | ₹94.91 |
| Apr 2026 | 1.131 | +0.3% | ₹107.13 | ₹94.72 |
| Mar 2026 | 1.1279 | +2.2% | ₹105.37 | ₹93.42 |
| Feb 2026 | 1.104 | +0.6% | ₹100.55 | ₹91.08 |
| Jan 2026 | 1.0975 | -0.9% | ₹100.5 | ₹91.57 |
| Dec 2025 | 1.1074 | +0.7% | ₹99.54 | ₹89.89 |
| Nov 2025 | 1.0997 | +0.7% | ₹98.29 | ₹89.38 |
| Oct 2025 | 1.0919 | — | ₹97.03 | ₹88.86 |
How this ratio is worked out, and its limits
The ratio is Ondo US Dollar Yield'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 USDY/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 USDY for USDT is a taxable transfer in India: Schedule VDA guide · tax calculator.
FAQ
How much is 1 USDY in USDT?
At the 23 October 2026 snapshot, 1 Ondo US Dollar Yield (USDY) was worth 1.1509 USDT, because 1 USDY cost ₹108.9 and 1 USDT cost ₹94.62. Put the other way, 1 USDT = 0.86887 USDY. The live ratio at the top of this page refreshes every 60 seconds.
Live now: — (refreshes every 60 seconds)
Did USDY beat USDT over the last year?
In rupee terms Ondo US Dollar Yield went up 12.4% and Tether up 7.7% between 24 Oct 2025 and 23 Oct 2026, so USDY gained 4.3% against USDT (daily closes, UTC). ₹1 lakh in USDY would have become about ₹1,12,354; in USDT, about ₹1,07,694.
Is swapping USDY for USDT taxed in India?
Yes. A crypto-to-crypto swap is a transfer of a virtual digital asset, so any gain on the USDY 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 USDY directly against USDT in India?
It depends on the exchange. This page does not check listings. If your exchange has no direct USDY/USDT market you would go through INR or USDT, which means two trades, two sets of fees and two taxable transfers.