The external market was at even more of a discount yesterday (I saw up to 60%), I was taking the opposite side of the trade, bought Steem on the external and converted to steem dollars on the internal market. So it is coming down and converging, over time it should be much closer to fair value.

https://steemit.com/steem/@wingz/how-to-buy-a-steem-dollar-for-less-than-a-dollar