Indian Prime Minister Narendra Modi announced the government’s decision to denominate the 500 and 1,000 Rupees currency notes with only a night’s notice. Indian Bitcoin-Rupee exchange rate at Zebpay reached its a staggering value of $996 per Bitcoin. The only currency with a higher Bitcoin premium is the Nigerian Naira, going for around $1,250 per Bitcoin, meaning a premium of 70%. Indians are overpaying for Bitcoin in the process of finding alternatives means of payment until the current currency notes crisis ends.
Source: https://www.bleepingcomputer.com/news/business/bitcoin-price-reaches-995-in-india-after-government-rendered-most-currency-useless/