USD91 is a stablecoin of Unitas, which reflects the value of India’s rupee as a fraction of 1 US Dollar.
Unitas is the first over-collateralized USD exchange-rate-derived stablecoin protocol for multiple emerging market currencies. USD1, USD91, and USD971 are the first three tokens issued for the protocol’s sandbox phase.
Unitas stablecoins reflect the value of a USD stablecoin in proportion to one unit of each local currency, and are affixed with their corresponding country code, eg. USD91 for India’s rupee, USD971 for the UAE’s dirham and USD1 for the US dollar.
As USD91 reflects the value of India’s rupee as a fraction of USD, this means that if USD/INR exchange rate is 1:80, USD91 stands for 1/80 of USD, which roughly translates to 0.0125 USD.
The real rates will be reflected timely by the Unitas price oracle.