It will last as long as the Indian government is limiting and controlling the amount of rupees going outside of the country. That is how the arbitrage is created. Easy to get Bitcoin in, difficult to get rupees out.
Also it's not 10%, more like a few percents right now. Although during the bull run it was 20 to 30%
It does vary; the arbitrage at this very second is ~6%.
There is no exchange in India. I see 3% comparing best price on localbitcoins to Google Bitcoin price. How do you get yours?
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