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The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> appreciated by 3 paise to close at 83.33 (provisional) against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> on Tuesday on positive domestic markets and a soft American currency. At the interbank foreign exchange market, the local unit opened at 83.37 against the greenback. The unit hit an intra-day high of 83.28 and a low of 83.39 against the greenback. The domestic unit finally settled at 83.33 (provisional) against the dollar, 3 paise higher from its previous close. On Monday, the rupee appreciated by 8 paise to close at 83.36 against the US dollar. "Indian rupee appreciated on Tuesday on weak US dollar and positive domestic markets. However, a recovery in <keyword id="20024983" type="General" weightage="20" keywordseo="crude-oil-prices" source="keywords">crude oil prices</keyword> and FII outflows capped sharp gains," said Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent lower at 106.06, on easing tensions between Israel and Iran. Brent crude futures, the global oil benchmark, advanced 0.29 per cent to USD 87.25 per barrel. "We expect the rupee to trade with a slight positive bias on improved global risk sentiments and easing of geopolitical tensions in the Middle East," Choudhary said. Easing dollar on strong euro and pound amid mixed to positive PMI data from Europe also supported the rupee. "However, any fresh aggressions in the Middle East may cap sharp upside. Traders may take cues from PMI data from US. Investors may remain cautious ahead of inflation data from US later this week. USD-INR spot price is expected to trade in a range of Rs 83.10 to Rs 83.50," Choudhary added. On the domestic equity market front, Sensex advanced 89.83 points, or 0.12 per cent, to settle at 73,738.45 points. The Nifty rose 31.60 points, or 0.14 per cent, to close at 22,368.00 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 2,915.23 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india/slidelist/109529634.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india/slidelist/109529634.cms" target="_blank">Best smartphones under ₹25,000 in India</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a>

Rupee rises 3 paise to close at 83.33 against US dollar

India's <keyword id="20344433" type="General" weightage="20" keywordseo="forex-reserves" source="keywords">forex reserves</keyword> decreased <keyword id="19944038" type="General" weightage="20" keywordseo="USD" source="keywords">USD</keyword> 2.282 billion to USD 640.334 billion for the seven days ended April 19 in the second consecutive week of drop in the kitty, the Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) said on Friday. The reserves had dropped USD 5.401 billion to USD 643.162 billion in the previous reporting week, ending a multi-week trend of an increase, which also saw the overall reserves touching a new all-time high of USD USD 648.562 billion for the week ended April 5. In September 2021, the country's forex kitty had reached a high of USD 642.453 billion, which was breached in March this year. The reserves took a hit as the central bank deployed the kitty to defend the <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> amid pressures caused majorly by global events, but there had been a steady accretion over the past few months. For the week ended April 19, the <keyword id="20972687" type="General" weightage="20" keywordseo="foreign-currency-assets" source="keywords">foreign currency assets</keyword>, a major component of the reserves, decreased USD 3.793 billion to USD 560.86 billion, according to the data released on Friday. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves. <keyword id="20344434" type="General" weightage="20" keywordseo="gold-reserves" source="keywords">Gold reserves</keyword> continued to rise and increased USD 1.01 billion to USD 56.808 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down USD 43 million to USD 18.034 billion, the apex bank said. India's reserve position with the IMF was also down USD 2 million to USD 4.631 billion in the reporting week, the apex bank data showed. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a>

In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn

A new 5 pound coin to commemorate the life and legacy of Mahatma Gandhi was unveiled by Chancellor Rishi Sunak to mark the Hindu festival of Diwali. Available in a range of standards, including gold and silver, the special collectors' coin was designed by Heena Glover and features an image of a lotus, India's national flower, alongside one of Gandhi's most famous quotes -- "My life is my message". Building on the enduring relationship and cultural connections between the UK and India, it is the first time that Gandhi has been commemorated on an official UK coin with the final design chosen by Sunak, who is the Master of the Mint. "This coin is a fitting tribute to an influential leader who inspired millions of people around the world," he said. "As a practicing Hindu, I am proud to unveil this coin during Diwali. Mahatma Gandhi was instrumental in the movement for Indian independence and it is fantastic to have a UK coin commemorating his remarkable life for the first time." The coin, which goes on sale, is part of the Royal Mint's wider Diwali collection, which includes 1g and 5g gold bars in henna-style packaging, and the UK's first gold bar depicting Lakshmi -- the Hindu Goddess of wealth. The 20g gold Lakshmi bar was designed in partnership with the Hindu community in South Wales, where the Royal Mint is based. The Mint will join the celebrations at the Shree Swaminarayan Temple in Cardiff, where worshippers will offer prayers to goddess Lakshmi and lord Ganesha for the coming year. Chief Customer Officer for The Royal Mint, Nicola Howell, said: "As we approach Diwali celebrations, we are delighted to unveil the first official UK coin commemorating the life and legacy of Mahatma Gandhi. The beautiful design builds on the enduring relationship and cultural connections between the UK and India." The announcement comes as India is celebrating its 75th year of Independence this year. Last year, the Chancellor commissioned the new "Diversity Built Britain" 50p coin following discussion with the 'We Too Built Britain' campaign, which works for fair representation of minority communities' contributions across all walks of life. Around 10 million of the coins, which recognise and celebrate Britain's diverse history, went into circulation in October 2020. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/three-indian-teens-shortlisted-for-international-childrens-peace-prize/articleshow/87523376.cms">Three Indian teens shortlisted for International Children's Peace Prize</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/who-approves-bharat-biotechs-covaxin-for-emergency-use/articleshow/87510108.cms">WHO approves Bharat Biotech’s Covaxin for emergency use after a long wait</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indian-government-cut-duties-on-petrol-and-diesel-and-other-bjp-states-follow-suit/articleshow/87515906.cms">Indian government cut duties on petrol and diesel and other BJP states follow suit</a>

Britain's five-pound Diwali coin has Mahatma Gandhi's quote and a lotus

<ul><li>Today, the rupee appreciated by 23 paise to close at 79.02</li><li>The rupee touched a high of 79.00 and a low of 79.22 before ending at 79.02.</li><li>This is leading to the short-term relief in the major and emerging market currencies to recover their previous losses against the USD, said <keyword id="14610883" type="General" weightage="80" keywordseo="amit-pabari" source="Orion">Amit Pabari</keyword>, Managing Director, CR Forex.</li></ul> The rupee appreciated by 23 paise to close at 79.02 (provisional) against US dollars on firm domestic equities, amid foreign investors' inflows. At the interbank foreign exchange market, the Indian currency ended at 79.02, as against 79.25 closed on the previous trading session. The rupee has touched a high of 79.00 and low of 79.22 before ending at 79.02. "USDINR spot closed 23 paise lower at 79.02, thanks to FPI flows turning positive and some carry trade interest. Improvement in forward premium has brought exporters into the market. At the same time, softness in USD overseas, improved growth outlook in India, and uptick in forward premium has attracted carry traders into the market, who go long rupee and short USD," said Anindya Banerjee, VP, Currency Derivatives &amp; Interest Rate Derivatives at Kotak Securities Ltd. The dollar index, which measures the dollar's strength against the basket of 6 currencies, was down 0.52 per cent at 105.34. Inflows of foreign investors in domestic equities also remained major factor in the rise local currency. Foreign investors turned buyers in July nearly after 10 months, with an investment of around Rs 4,980 crore in the Indian equity markets. This comes heavy sell-off by these entities of around Rs 50,203 crore. According to the NSDL data, investment of foreign investors in July month stood at Rs 4,989 crore, as compared to over Rs 50,000 crore outflows in June, Rs 39,993 crore in May, and Rs 17,144 crore in April. "Despite of the no major change in fundamental factors for rupee, there is change in the global sentiments for the demand of US dollar. Post the Federal Reserve policy meeting, we have seen dollar bulls cooled down after the Fed highlighted that it could move a bit slow in hiking interest rates going forward. This is leading to the short term relief in to the major and emerging market currencies to recover their previous losses against USD," said Amit Pabari, Managing Director, CR Forex. Although, the trend in the USD is yet to be determined with the data releases and the risk sentiments improving and the outlook for other currencies such as euro and pound, markets needs a lot more convincing statement to keep demand for US dollar compressed for a longer period of time, he added. "Over the near term, bias remains downward. We expect a broad range of 78.70 and 79.40 on spot," Banerjee said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/amazon-great-freedom-festival-date-announced-sale-starts-august-6-onwards/articleshow/93268050.cms">Amazon Great Freedom Festival date announced - sale starts August 6 onwards</a> <a href="https://www.businessinsider.in/sports/news/commonwealth-games-medals-tally-at-2022-birmingham-games/slidelist/93274345.cms">Commonwealth Games 2022: India has won 3 gold medals so far, check out all the details here.</a>

Indian currency gains 23 paise to end at 79.02 against US dollar

The rupee appreciated 34 paise to close at 82.47 (provisional) against the US dollar on Thursday as the greenback retreated from its elevated levels. At the interbank foreign exchange market, the local currency opened at 82.15 and witnessed a high of 82.14 and a low of 82.51. It finally settled at 82.47 against the American currency, registering a rise of 34 paise over its last close. In the previous session on Tuesday, the rupee appreciated by 7 paise to 82.81 against the dollar. The forex market was closed on Wednesday on account of Diwali Balipratipada. "Rupee rose sharply as the dollar plunged against its major crosses. Weaker-than-expected economic data from the US led to a retracement in the dollar," said <keyword id="12834279" type="General" weightage="80" keywordseo="gaurang-somaiya" source="Orion">Gaurang Somaiya</keyword>, Forex &amp; Bullion Analyst, Motilal Oswal Financial Services. The expectation is that the US Federal Reserve will slow the pace of its rate hiking cycle. This sent the euro back above parity with the greenback for the first time in a month, Somaiya added. The pound extended its gains on optimism that <keyword id="221875" type="General" weightage="80" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword> and his team will restore stability and credibility in the UK. "We expect the USD/INR(Spot) to quote in the range of 82.10 and 82.50," Somaiya said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was quoted 0.36 per cent higher at 110.09. Global oil benchmark Brent crude futures fell 0.06 per cent to <keyword id="54123" type="General" weightage="80" keywordseo="usd" source="Orion">USD</keyword> 95.63 per barrel. On the domestic equity market front, the 30-share <keyword id="53232" type="General" weightage="80" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> rose 212.88 points or 0.36 per cent to end at 59,756.84, while the broader <keyword id="372424" type="General" weightage="80" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> advanced 80.60 points or 0.46 per cent to 17,736.95. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 247.01 crore on Tuesday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-climbs-212-points-nifty-up-80-points-as-metal-stocks-sparkle/articleshow/95122871.cms">Sensex climbs 212 points, Nifty up 80 points as metal stocks sparkle</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/pnb-housing-finance-q2-profit-rises-12-pc-at-rs-263-cr/articleshow/95123120.cms">PNB Housing Finance Q2 profit rises 12 pc at Rs 263 cr</a>

Rupee rises 34 paise to close at 82.47 against US dollar

The <keyword id="6355302" type="General" weightage="100" keywordseo="rupee" source="Orion">rupee</keyword> plunged 32 paise to close at an all-time low of 81.94 (provisional) against the US dollar on Thursday amid high volatility as firm crude oil prices weighed on the local unit. At the interbank foreign exchange market, the local currency opened on a positive note at 81.52, then pared all the gains to settle at an all-time low of 81.94 against the American currency, registering a decline of 32 paise over its previous close. During the day, the local unit witnessed an intra-day high of 81.51 and a low of 81.94 against the greenback. On Tuesday, the rupee appreciated by 20 paise to end at 81.62 against the US dollar. The forex market was closed on Wednesday on account of Dussehra. "Rupee, after appreciating marginally on Tuesday, is again starting to come under pressure. The dollar strengthened after services <keyword id="104215" type="General" weightage="50" keywordseo="pmi" source="Orion">PMI</keyword> and private payrolls numbers from the US came in better than estimates," said Gaurang Somaiya, Forex &amp; Bullion Analyst, Motilal Oswal Financial Services. Major crosses euro and pound continued to witness selling pressure at higher levels. The focus will be on the <keyword id="84979" type="General" weightage="50" keywordseo="european-central-bank" source="Orion">European Central Bank</keyword> (ECB) meeting minutes, Somaiya said. "We expect the USD/INR (Spot) to quote in the range of 81.20 and 82.05," Somaiya added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.06 per cent to 111.27. Global oil benchmark Brent crude futures fell 0.08 per cent to USD 93.30 per barrel. On the domestic equity market front, the 30-share <keyword id="53232" type="General" weightage="50" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> advanced 156.63 points or 0.27 per cent to end at 58,222.10, while the broader <keyword id="372424" type="General" weightage="50" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> rose 57.50 points or 0.33 per cent to 17,331.80. Foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth Rs 1,344.63 crore, as per exchange data.

Rupee falls 32 paise to close at all-time low of 81.94 against US dollar

The rupee depreciated by 14 paise to 79.70 against the US dollar in opening trade on Friday, weighed down by strength of the American currency in the overseas market. At the interbank foreign exchange market, the rupee opened at 79.63 against the greenback, then fell further to 79.70, registering a decline of 14 paise over its last close. On Thursday, the rupee declined by 4 paise to close at 79.56 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.12 per cent to 109.55. The rupee opened on a weak note as the dollar index advanced to 109.60 with the British pound falling to its lowest in two years while <keyword id="76265" type="General" weightage="80" keywordseo="yen" source="Orion">Yen</keyword> touched the 140-mark, said Anil Kumar Bhansali, Head of <keyword id="6374832" type="General" weightage="80" keywordseo="treasury" source="Orion">Treasury</keyword>, Finrex Treasury Advisors. Forex traders said though oil prices remained subdued, weak Asian and emerging market peers and higher inflation expectation might weigh on the local currency. The global oil benchmark Brent crude futures advanced 1.83 per cent to USD 94.05 per barrel. On the domestic macroeconomic front, the GST tax collection was at Rs 1.44 lakh crore for the 6th consecutive month in August. Moody's Investors Service on Thursday slashed India's economic growth projection for 2022 to 7.7 per cent, citing dampening of economic momentum in coming quarters on rising interest rates, uneven monsoon, and slowing global growth. This is a sharp 1.1 percentage points cut from the growth projection of 8.8 per cent for the current year made in May by Moody's. On the domestic equity market front, the 30-share <keyword id="53232" type="General" weightage="80" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> was trading 151.29 points or 0.26 per cent higher at 58,917.88, while the broader <keyword id="372424" type="General" weightage="80" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> advanced 57.25 points or 0.33 per cent to 17,600.05. Foreign institutional investors turned net sellers in the capital market on Thursday as they offloaded shares worth Rs 2,290.31 crore, as per exchange data. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/meet-laxman-narsimhan-the-pune-boy-wholl-soon-be-the-ceo-of-starbucks/slidelist/93941369.cms">Meet Laxman Narsimhan, the Pune boy who’ll soon be the CEO of Starbucks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/android-14-to-bring-satellite-support-to-phones/articleshow/93942444.cms">Android 14 to bring satellite support to phones – here’s everything you need to know</a>

Rupee falls 14 paise to 79.70 against US dollar in early trade

<ul class="summary-list"><li>The <keyword id="4497343" type="PERSON" weightage="60" keywordseo="pink-salt">pink salt</keyword> comes from remnants of ancient seabeds that crystallized 600 million years ago.</li><li>It's mined deep inside the mountains of <keyword id="3001" type="COUNTRY" weightage="60" keywordseo="Pakistan">Pakistan</keyword> at the <keyword id="10713672" type="UNKNOWN" weightage="60" keywordseo="khewra-salt-mine">Khewra Salt Mine</keyword>.</li><li>Historically, Pakistan has seen little of the profits, even though pink salt is sold as a gourmet product worldwide.</li></ul>Following is a transcription of the <keyword id="21654" type="COMPANY" weightage="60" keywordseo="video">video</keyword>:Narrator: Himalayan salt doesn't actually come from the <keyword id="52569" type="CITY" weightage="60" keywordseo="himalayas">Himalayas</keyword>. It's mined 186 miles away in Pakistan. Thanks to its pink hue and supposed <keyword id="6362030" type="UNKNOWN" weightage="60" keywordseo="health-benefits">health benefits</keyword>, the salt has exploded in popularity since the late 2000s. Today, it's turned into lamps, statues, and of course, table salt. But extracting the coveted salt means descending into dark caves, then blasting and carrying heavy rock.Faizan Panjwani: The problem is the massive size of the blocks that come from the mine. We don't have the technology in our mine to efficiently extract the salt.Narrator: We went inside the mine turning this mountain into 400,000 tons of pink salt each year.The Khewra Salt Mine, here in the Punjab region of Pakistan, is the second largest salt mine in the world. The pink salt comes from remnants of ancient seabeds that crystallized 600 million years ago. Legend has it, it was actually Alexander the Great's horse that first discovered the salt rocks when it stopped to take a lick. Then, under British rule, salt mining ramped up in the 1870s.Today, it's a popular tourist destination and a working mine, producing the majority of the world's pink salt. All the mining starts here, at the train station. This train takes miners deep into the mountain. Here, tunnels stretch for 25 miles, and it's always 64 degrees.Asif Chauhan: The mine has a total of 17 levels. There are five above us. We are at the sixth level, or the ground floor, and there are 11 levels underground. Narrator: Three hundred miners work these dark chambers. They've used many of the same mining tools for over a century: pickaxes, hand drills, and gunpowder.Muhammad Ashraf Abbasi: First, we do the drilling. We do the drilling with a hand auger. Then we do the packing with gunpowder. Next, we ignite it by using a safety fuse, and then we blast out the salt. Worker: Warning, everyone move to the side! Warning, everyone move to the side!Abbasi: After that, just to be safe, we wait for half an hour before going in and loading the salt. Narrator: Miners will spend eight hours underground at a time.Muhammad Qamar: Obviously, working in the mine 30 to 40 feet underground is hard. But we get paid well and on time.Narrator: Only half of the mountain's salt is actually mined. The rest is used for structural support so the chambers don't collapse. Tractors haul the mined salt blocks out of the mountain. Each day, miners excavate over 1,000 tons of salt, or about the weight of 157 elephants.Outside, they search for the blocks with the best shape and coloring to send to manufacturers. Once picked, the blocks are loaded up on trucks either by hand or crane and sent across Pakistan.Historically, Pakistan couldn't process this raw pink salt, so much of it was exported to India cheaply. India would treat the salt, label it as made in India, and sell it at a premium. Pakistan saw little of the profits. NPR reported that a ton of salt sold to India for $40 could fetch $300 in Europe. In 2019, a social media campaign calling for the end of salt exports to India went viral. That same year, the Pakistani government banned all salt exports to India. The goal? Returning the profits to Pakistan.Waqas Panjwani: Twenty-three percent of Pakistan's rock salt was exported to India as raw material. Then it was re-exported overseas to the same market we are exporting to right now. The government's decision will definitely benefit us.Narrator: But some Pakistani salt exporters suffered. They didn't speak English and couldn't meet Europe's tough import standards. Only about a dozen exporters saw an opportunity to sell products under Pakistani labels directly to Europe. Muhammad was one of them. Every month, he purchases 300 tons of salt from the mine for his company, Himalayan Decor International.Muhammad Imran: From the Khewra mine, salt is loaded onto several trucks that <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword> on the motorway and bring it to our factory, which is in Lahore on Defence Road which is 350 km away.Narrator: His artists turn these blocks into more than 200 different products.Imran: Natural salt lamps, geometrical shapes, animal salt licks, eating and cooking plates. We are also making wall tiles. We are also making a lot of salt for food.Narrator: Most of the work is done by hand, but drills and saws have sped up the process in recent years.Imran: After that, we check the quality. Then we wash it. After that, we install a bulb and wooden base, and that brings it to the final packing stage. We produce almost 10,000 to 15,000 salt lamps monthly.Narrator: Over in Karachi, RM Salt Pakistan grinds up blocks into table salt.Faizan Panjwani: Basically this is the raw material that you can see is in different sizes. This ranges from 2 to 3 kg, 3 to 5 kg. And this is the large size, 9 to 12 kg, 12 to 15 kg. It's available in a range.Narrator: Blocks are fed into the grinder and broken down into smaller grains. Workers bag and weigh 1,000 of these pouches of pink salt every hour. Like Muhammad's factory, RM Salt also makes lamps and other specialty products. After the raw material we get, we convert it into a different shape as per our order. As you can see in the cutting machine, he is cutting different sizes. On this saw, water prevents dust from flying up. But on the grinders, it's not possible, which is why Muhammad's staff wore masks even before the pandemic. Over at RM Salt ...Faizan Panjwani: As you can see, in this facility we have installed a vacuum through which we can absorb the dust. This is an order from USA, one of our clients. We are making these goods for them. The moon shape and the heart shape, as well. After double drill, it goes through the washing process. We have to do this manually because of the different block sizes.Narrator: The lamps are then coated with a gel to prevent humidity from interacting with the salt, and then they're shrink wrapped. RM Salt ships 30 containers of products every month. Muhammad exports about 80% of his products, primarily to Western countries like the US, UK, and Spain, where demand has spiked in the last decade because of the alleged health benefits.Chauhan: Three colors of salt are found here. White, red, or pink. White has sodium chloride, pink has magnesium, and red has iron.Waqas Panjwani: 98% of this is sodium chloride, or NaCl, the same as sea salt. But the additional benefits are that it has 84 minerals like calcium, magnesium, and potassium.Rhiannon Lambert: However, it's such a very small percentage of the salt that makes up these minerals, you are highly unlikely to get any real benefit or any trace of them in your regular serving of salt itself. But nutritionally, it's pretty much similar to regular salt.Narrator: It's also pretty similar-tasting to sea salt. But others claim Himalayan salt has healing powers, whether inhaled, used in spa treatments, or in lamp form.Lambert: There's a lot of homeopathic remedies that can seem very, very appealing, but actually they're not grounded in evidence.Narrator: And it's these false health claims that have driven the price up. Himalayan salt can cost up to 20 times the price of normal table salt.Waqas Panjwani: Normally, the price of a pink salt pouch starts at 60 cents for a manufacturer. I am talking about a 1-kg bag. On the <keyword id="6354851" type="UNKNOWN" weightage="100" keywordseo="retail">retail</keyword> market, it sells for around $9. Narrator: But that money doesn't always make it back to the miners. They take home less than 1,500 rupees a day. Not much more than the cost of this bag of <keyword id="10713671" type="UNKNOWN" weightage="60" keywordseo="himalayan-sea-salt">Himalayan sea salt</keyword> at Walmart. And those salaries have stayed the same even though Pakistan has severed its salty relationship with India and the pink salt is seeing growing demand abroad.Imran: The demand for pink salt is increasing day by day across the whole world. I don't think there will be any decrease in demand or sales because people are using it a lot, and every day sales are increasing.Narrator: Luckily, the mountain won't run out of salt any time soon. It's estimated only about 220 million tons of salt have been excavated here -- nothing compared to the nearly 6.7 billion tons left.

How 800 million pounds of Himalayan salt are mined each year

(Eds: Adding details) Mumbai, Jun 8 () The rupee on Monday appreciated marginally by three paise to 75.55 (provisional) against the US dollar amid sustained foreign fund inflows and positive domestic equity market. Forex traders said a weak dollar overseas also helped the rupee, but rising crude oil prices weighed on the domestic unit. The rupee opened at 75.59 against the US dollar and finally settled at 75.55, registering a rise of 3 paise over its previous close. It had settled at 75.58 against the greenback on Friday. During the four-hour session, the rupee saw an intra-day high of 75.50 and a low of 75.64. On the equities front, the 30-share BSE benchmark Sensex was quoting 17.60 points higher at 34,304.84 and broader Nifty was up 20.45 points at 10,162.60. Foreign institutional investors were net buyers in the capital market, as they bought shares worth Rs 97.61 crore on Friday, according to provisional exchange data. Brent crude futures, the global oil benchmark, rose 0.97 per cent to USD 42.71 per barrel. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.09 per cent to 96.85. The weakness in dollar index and stronger global equities supported the emerging market currencies. In the first week of June, foreign institutions have bought equities worth USD 2.6 billion, traders said. "Indian rupee gained on expectation of foreign fund inflows and in line with stronger Asian currencies," Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities said, adding the near-term focus will remain on US FOMC meeting on Wednesday. Vakil further noted that the rupee is expected to consolidate in the range of 75 to 76 in the coming days. Meanwhile, the number of cases around the world linked to the disease has crossed 70.31 lakh and the death toll has topped 4.03 lakh. In India, the death toll due to COVID-19 rose to 7,135 and the number of infections rose to 2,56,611, according to the health ministry. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 75.4665 and for rupee/euro at 85.8416. The reference rate for rupee/British pound was fixed at 95.4717 and for rupee/100 Japanese yen at 69.03. DRR BAL

Rupee edges 3 paise higher against US dollar

Mumbai, Apr 17 () The Indian rupee on Friday settled 48 paise higher at 76.39 against the US dollar, rebounding from an all-time low hit a day earlier, buoyed by RBI measures to prop up the economy reeling under the Covid-19 impact. A strong rally in domestic equities also helped in improving forex market sentiment. At the interbank foreign exchange, the rupee opened at 76.59 and then gained further ground to touch a high of 76.35 against the US dollar. The domestic unit finally settled for the day at 76.39 against the US dollar, registering a rise of 48 paise over its previous close. On weekly basis, the Indian unit lost 12 paise or 0.15 per cent against the USD. On Thursday, the rupee had settled at an all-time low of 76.87 against the US dollar. In a much anticipated move, the RBI announced a slew of measures to infuse liquidity in the financial system including a cut in the reverse repo rate, Rs 50,000-crore targeted long-term repo operations (TLTRO) and refinancing facilities for Nabard, Sidbi and NHB. Forex traders said these measures announced by Reserve Bank Governor Shaktikanta Das would provide the much needed liquidity and ease the financial stress caused by the pandemic. The central bank reduced the reverse repo rate - the rate at which banks park their fund with the central bank - by 25 basis points to 3.75 per cent. This will encourage banks to lend to the productive sectors of the economy. With regard to other measures, Das said the RBI will begin with giving an additional Rs 50,000 crore through targeted long-term repo operation (TLTRO) to be undertaken in tranches. Besides, he announced a re-financing window of Rs 50,000 crore for financial institutions like Nabard, National Housing Bank and Sidbi. Jateen Trivedi, Senior Research Analyst (Commodity &amp; Currency) at LKP Securities, said, "Rupee traded stronger today on back of Reserve bank of India announcing liquidity measures to boost growth amid slowdown due to Covid-19 lockdown". The number of cases around the world linked to the new coronavirus has touched nearly 22 lakh. In India, over 13,300 coronavirus cases have been reported so far. On the equity market front, the BSE Sensex closed 3.22 per cent or 986 points higher at 31,589, while the 50-share Nifty advanced 3.05 per cent or 274 points to close at 9,267. Nearly Rs 3 lakh crore were added to the market capitalization of BSE-listed companies. Brent crude futures, the global oil benchmark, rose 0.29 per cent to USD 27.90 per barrel. Meanwhile, the dollar index, which gauges the greenback's strength against the basket of six currencies was trading 0.05 per cent higher at 100.07. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 76.7408 and for rupee/euro at 83.6541. The reference rate for rupee/British pound was fixed at 95.9853 and for rupee/100 Japanese yen at 71.22. DRR MKJ

Rupee rebounds 48 paise against USD on RBI booster

Mumbai, May 15 () The rupee pared initial gains to settle 2 paise lower at 75.58 against the US dollar on Friday amid firming oil prices and lacklustre global cues. Forex traders said the local currency was trading in a narrow range amid rising risk-aversion in the broader financial markets. Investors also awaited further details of the government's fiscal stimulus package, they added. At the interbank foreign exchange market, the rupee opened at 75.51, and stayed in a range of 75.45 - 75.59. The local unit finally finished at 75.58, down 2 paise over its previous close. On Thursday, the rupee had settled 10 paise lower at 75.56 against the greenback. On a weekly basis, the domestic unit has depreciated by 4 paise. It had settled at 75.54 on May 8. Announcing the third tranche of stimulus measures for the coronavirus-hit economy, Finance Minister Nirmala Sitharaman said this will deal with giving relief to agriculture and allied industries. Forex traders said market participants are concerned about the implications of the Rs 20 lakh crore economic stimulus package on the fiscal deficit, as there is still no clarity on how it would be financed. Meanwhile, domestic bourses ended modestly lower after a choppy session. The 30-share BSE Sensex settled 25.16 points or 0.08 per cent lower at 31,097.73, while the NSE Nifty slipped 5.90 points, or 0.06 per cent, to 9,136.85. Foreign institutional investors remained net sellers in the capital market, selling equity shares worth Rs 2,152.52 crore on Thursday, according to provisional exchange data. "Overall market sentiments have been lacklustre and this week, the spot market traded in a very tight range. The fiscal measures undertaken by FM Sitharaman to reduce risk aversion and improve liquidity didn't have major impact on USD/INR spot," said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services. Brent crude futures rose 1 per cent to USD 31.44 per barrel. "Gold and crude both scaling up give weakness to the rupee prices as India being net-importer of both. Rupee scaled low to 75.60 taking resistance near 75 against the US dollar," said Jateen Trivedi, Senior Research Analyst (Commodity &amp; Currency) at LKP Securities. Traders further said investors are also concerned about rising coronavirus cases and the impact on the domestic as well as global economy. The US dollar strengthened overseas as fears of a second wave of coronavirus infections prompted investors to dump risky assets. In India, the death toll due to COVID-19 rose to 2,649 and the number of cases climbed to 81,970, according to the health ministry. The number of cases around the world linked to the disease has crossed over 44.44 lakh and the death toll has topped 3.02 lakh. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 75.4440 and for rupee/euro at 75.4440. The reference rate for rupee/British pound was fixed at 75.4440 and for rupee/100 Japanese yen at 70.64. DRR ABMABM

You Searched For "pounds in rupees" and got 11 results

Rupee rises 3 paise to close at 83.33 against US dollar

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Britain's five-pound Diwali coin has Mahatma Gandhi's quote and a lotus

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How 800 million pounds of Himalayan salt are mined each year

Abby Narishkin,Steve Cameron

Rupee edges 3 paise higher against US dollar

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Rupee rebounds 48 paise against USD on RBI booster

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Rupee slips 2 paise to 75.58 against US dollar

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