Convert and Swap Binance USD BUSD to Indian Rupee INR
BUSD/INR: 1 Binance USD equals ₹85.21 INR
Binance USD (BUSD) is not tradable on Coinbase.
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Last update: 8:55 AM, December 23, 2024
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Binance USD market latest
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Binance USD is falling this week.
The current price of Binance USD is ₹85.21 per BUSD. With a circulating supply of 68,223,480.924 BUSD, it means that Binance USD has a total market cap of ₹5,813,901,823.29. The amount of Binance USD traded has fallen by ₹278,782,878.23 in the last 24 hours, which is a 37.72% decrease. Additionally, in the last day, ₹739,007,710.86 worth of BUSD has been traded.
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About Binance USD
Binance USD (BUSD) is a stablecoin running on Ethereum. For stablecoins like BUSD, the company behind the protocol is responsible for holding reserves that fully back each token. The companies behind BUSD, Binance and Paxos, claim that each BUSD token is backed by and corresponds to one dollar held in traditional bank accounts. Note: Coinbase only supports BUSD on the Ethereum blockchain (ERC-20).
Binance USD (BUSD) is a digital fiat currency that aims to combine the stability of the US dollar with the innovative potential of blockchain technology. It is a 1:1 USD-backed stable coin, meaning each BUSD token is equivalent to one US dollar. This stable coin is issued as ERC-20 and supports BEP-2, two popular standards for creating and issuing smart contracts on the Ethereum and Binance Smart Chain platforms respectively. BUSD is approved and regulated by the New York State Department of Financial Services (NYDFS), ensuring its compliance with financial regulations. It is issued by Paxos Trust Company, LLC in partnership with Binance.
BUSD operates on the principle of being fully backed by reserves held in either fiat cash in dedicated omnibus accounts at insured U.S. banks or U.S. Treasury bills. This backing ensures the stability of the BUSD value, making it a reliable digital representation of the US dollar on the blockchain. The issuance and redemption of BUSD can be done without any extra fee. It is issued on the Ethereum blockchain, and a wrapped version of BUSD is also offered on the Binance Smart Chain.
BUSD strives to serve a variety of use cases in the digital economy. Its price stability makes it a valuable asset in transactions, payments, and settlement, as well as in Decentralized Finance (DeFi). BUSD can be transferred anywhere in minutes, with low cost and on the blockchain, making it a convenient medium of exchange. It can also be used as payment for goods and services, as collateral and loan asset, and as cross collateral in Futures. Furthermore, BUSD can be stored on an exchange or in a wallet, providing users with flexibility in managing their digital assets.
Launched on September 5, 2019, BUSD has seen significant growth, particularly in 2021. The stablecoin's market capitalization grew from around US$1B at the start of 2021, to over US$14.6B at the end of the year, making it one of the largest stablecoins by market cap. This growth is largely attributed to increased user adoption as more wallets, platforms, services, and exchanges began to support BUSD. In April 2022, Binance made a notable donation of $2.5 million in BUSD to a UN refugee agency, marking the agency's first stablecoin crypto donation and demonstrating the potential of cryptocurrency in supporting humanitarian aid.
How Binance USD and Indian Rupee differ
Binance USD (BUSD) and the Indian Rupee (INR) are both forms of currency, but they operate in fundamentally different ways. BUSD is a digital fiat currency that aims to merge the stability of the US dollar with the innovative potential of blockchain technology. It's a 1:1 USD-backed stable coin, meaning each BUSD token is equivalent to one US dollar. This stable coin is issued as ERC-20 and supports BEP-2, two popular standards for creating and issuing smart contracts on the Ethereum and Binance Smart Chain platforms respectively. On the other hand, the INR is the official currency of India, regulated by the Reserve Bank of India, and is used in traditional banking and commerce. Unlike BUSD, the INR is not backed by another currency and its value is determined by factors such as inflation, economic growth, and geopolitical issues. While BUSD operates on the principle of being fully backed by reserves held in either fiat cash in dedicated omnibus accounts at insured U.S. banks or U.S. Treasury bills, the INR does not have such backing. BUSD can be transferred anywhere in minutes, with low cost and on the blockchain, making it a convenient medium of exchange in the digital economy. In contrast, INR transactions are typically slower, incur fees, and are limited by banking hours and regulations.
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BUSD to Indian Rupee conversion tables
The exchange rate of Binance USD is decreasing.
The current value of 1 BUSD is ₹85.21 INR. In other words, to buy 5 Binance USD, it would cost you ₹426.05 INR. Inversely, ₹1.00 INR would allow you to trade for 0.0117 BUSD while ₹50.00 INR would convert to 0.5868 BUSD, not including platform or gas fees.
In the last 7 days, the exchange rate has fallen by 0.07%. Meanwhile, in the last 24 hours, the rate has changed by 0%, and that the the highest exchange rate of 1 BUSD to Indian Rupee was ₹85.22 INR and the lowest 24 hour value was 1 BUSD for ₹84.96 INR. This time last month, the value of 1 BUSD was ₹84.52 INR, which is a 0% increase from where it is now. Looking back a year, Binance USD has changed by ₹83.32 INR.
BUSD to INR performance history
Price 24H ago | Change 24H | Price 1W ago | Change 1W | Price 1M ago | Change 1M | Price 1Y ago | Change 1Y |
|---|---|---|---|---|---|---|---|
₹85.07 INR | -0.00% | ₹84.99 INR | -0.07% | ₹84.52 INR | -0.00% | ₹83.32 INR | 0.02% |
BUSD to INR
Amount | Today at 8:55 am |
|---|---|
0.5 BUSD | ₹42.61 |
1 BUSD | ₹85.21 |
5 BUSD | ₹426.05 |
10 BUSD | ₹852.10 |
50 BUSD | ₹4,260.52 |
100 BUSD | ₹8,521.05 |
500 BUSD | ₹42,605.25 |
1,000 BUSD | ₹85,210.49 |
INR to BUSD
Amount | Today at 8:55 am |
|---|---|
0.5 INR | 0.0059 BUSD |
1 INR | 0.0117 BUSD |
5 INR | 0.0587 BUSD |
10 INR | 0.12 BUSD |
50 INR | 0.59 BUSD |
100 INR | 1.17 BUSD |
500 INR | 5.87 BUSD |
1,000 INR | 11.74 BUSD |
Today vs. 24 hours ago
Amount | Today at 8:55 am | 24 hours ago | 24H Change |
|---|---|---|---|
0.5 BUSD | ₹42.61 | ₹42.60 | +0.02% |
1 BUSD | ₹85.21 | ₹85.19 | +0.02% |
5 BUSD | ₹426.05 | ₹425.97 | +0.02% |
10 BUSD | ₹852.10 | ₹851.93 | +0.02% |
50 BUSD | ₹4,260.52 | ₹4,259.67 | +0.02% |
100 BUSD | ₹8,521.05 | ₹8,519.35 | +0.02% |
500 BUSD | ₹42,605.25 | ₹42,596.73 | +0.02% |
1,000 BUSD | ₹85,210.49 | ₹85,193.47 | +0.02% |
Today vs. 1 month ago
Amount | Today at 8:55 am | 1 months ago | 1M Change |
|---|---|---|---|
0.5 BUSD | ₹42.61 | ₹42.59 | +0.04% |
1 BUSD | ₹85.21 | ₹85.18 | +0.04% |
5 BUSD | ₹426.05 | ₹425.89 | +0.04% |
10 BUSD | ₹852.10 | ₹851.77 | +0.04% |
50 BUSD | ₹4,260.52 | ₹4,258.85 | +0.04% |
100 BUSD | ₹8,521.05 | ₹8,517.71 | +0.04% |
500 BUSD | ₹42,605.25 | ₹42,588.53 | +0.04% |
1,000 BUSD | ₹85,210.49 | ₹85,177.07 | +0.04% |
Today vs. 1 year ago
Amount | Today at 8:55 am | 1 year ago | 1Y Change |
|---|---|---|---|
0.5 BUSD | ₹42.61 | ₹42.56 | +0.10% |
1 BUSD | ₹85.21 | ₹85.13 | +0.10% |
5 BUSD | ₹426.05 | ₹425.64 | +0.10% |
10 BUSD | ₹852.10 | ₹851.28 | +0.10% |
50 BUSD | ₹4,260.52 | ₹4,256.39 | +0.10% |
100 BUSD | ₹8,521.05 | ₹8,512.78 | +0.10% |
500 BUSD | ₹42,605.25 | ₹42,563.89 | +0.10% |
1,000 BUSD | ₹85,210.49 | ₹85,127.77 | +0.10% |
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