Up because just two weeks ago the Indian government announced the 500 and 1000 Rupee notes are no longer legal. Whoever wants to use them must deposit them in the bank until the end of the year or they will become worthless.

People all around india are standing in huge lines to deposit their money but many of them will not succeed. As a last resort, many of them turn to Bitcoin. This caused Bitcoin to be traded in India for $150 over its average price.