PYUSD to USDT: PayPal USD vs Tether in rupee terms
1 PYUSD =
1.001 USDT
1 PYUSD = ₹94.71 · 1 USDT = ₹94.62 · 1 USDT = 0.99905 PYUSD
Snapshot 23 October 2026; updating to live…
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Over the 12 months to 23 Oct 2026, PayPal USD was roughly flat against USDT: the ratio went from 0.99932 USDT to 1.0012 USDT per PYUSD. In rupees, PYUSD rose 7.9% (from ₹87.8 to ₹94.73) while USDT rose 7.7% (from ₹87.86 to ₹94.62). Because USDT tracks the US dollar, this ratio is close to PayPal USD's dollar price; the rupee quotes add the USD/INR rate.
The pair in numbers
- Highest ratio: 1.002 USDT on 31 Dec 2025. Lowest: 0.99866 USDT on 23 Nov 2025. Today's ratio is 0.1% below the high.
- Change against USDT: +0.1% over 30 days, +0.1% over 90 days, +0.2% over 12 months.
- ₹1 lakh put into PYUSD on 24 Oct 2025 would be worth about ₹1,07,893 now; the same in USDT, about ₹1,07,694 (before fees, spreads and tax).
- Daily moves: correlation 1.00 (they mostly move together); a 1% move in USDT came with about 0.99% in PYUSD on average. Volatility about 7% a year for PYUSD and 7% for USDT.
- PYUSD gained against USDT on 167 of 364 days (46%).
Month-end ratio
| Month | USDT per PYUSD | Change | PYUSD (₹) | USDT (₹) |
|---|---|---|---|---|
| Oct 2026 (so far) | 1.0012 | +0.1% | ₹94.73 | ₹94.62 |
| Sept 2026 | 1.0001 | +0.0% | ₹96.03 | ₹96.02 |
| Aug 2026 | 1 | -0.1% | ₹95.37 | ₹95.37 |
| Jul 2026 | 1.0008 | -0.0% | ₹95.7 | ₹95.62 |
| Jun 2026 | 1.0008 | +0.0% | ₹94.63 | ₹94.55 |
| May 2026 | 1.0005 | +0.1% | ₹94.96 | ₹94.91 |
| Apr 2026 | 1 | -0.0% | ₹94.72 | ₹94.72 |
| Mar 2026 | 1.0002 | +0.1% | ₹93.44 | ₹93.42 |
| Feb 2026 | 0.99967 | -0.1% | ₹91.05 | ₹91.08 |
| Jan 2026 | 1.0005 | -0.1% | ₹91.62 | ₹91.57 |
| Dec 2025 | 1.002 | +0.3% | ₹90.07 | ₹89.89 |
| Nov 2025 | 0.99933 | -0.0% | ₹89.32 | ₹89.38 |
| Oct 2025 | 0.99944 | — | ₹88.81 | ₹88.86 |
How this ratio is worked out, and its limits
The ratio is PayPal USD'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 PYUSD/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 PYUSD for USDT is a taxable transfer in India: Schedule VDA guide · tax calculator.
FAQ
How much is 1 PYUSD in USDT?
At the 23 October 2026 snapshot, 1 PayPal USD (PYUSD) was worth 1.001 USDT, because 1 PYUSD cost ₹94.71 and 1 USDT cost ₹94.62. Put the other way, 1 USDT = 0.99905 PYUSD. The live ratio at the top of this page refreshes every 60 seconds.
Live now: — (refreshes every 60 seconds)
Did PYUSD beat USDT over the last year?
In rupee terms PayPal USD went up 7.9% and Tether up 7.7% between 24 Oct 2025 and 23 Oct 2026, so PYUSD was roughly flat against USDT (daily closes, UTC). ₹1 lakh in PYUSD would have become about ₹1,07,893; in USDT, about ₹1,07,694.
Is swapping PYUSD for USDT taxed in India?
Yes. A crypto-to-crypto swap is a transfer of a virtual digital asset, so any gain on the PYUSD 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 PYUSD directly against USDT in India?
It depends on the exchange. This page does not check listings. If your exchange has no direct PYUSD/USDT market you would go through INR or USDT, which means two trades, two sets of fees and two taxable transfers.