IIT graduate gives Indian Rupee its symbol
An IIT post-graduate D Udaya Kumar has given the Indian Rupee a symbol of its own (See pic).
Information and Broadcasting Minister Ambika Soni announced this, saying the Rupee had now arrived on the international platform in sync with universal standards. The Cabinet approved the design today.(How do you like the symbol?)
Soni would not commit to a date by when the symbol would be officially in use but said it would take about six months in India and about two years to make it recognized internationally.
The government had organised a symbol design competition with a prize of Rs 2.5 lakh for the winner. Five designs were shortlisted. D Udaya Kumar had submitted more than one design.
The contestants were asked to design a symbol that would be the Hindi alphabet Ra with two lines - to "reflect and capture the Indian ethos and culture," in Finance Minister Pranab Mukherjee's words.
The growing influence of the Indian economy in the global space is said to have prompted this move. The Rupee will join the select club of global currencies like the US dollar, the British Pound, European Euro and Japanese Yen that have unique symbols.
Right now, the abbreviation for the Indian Rupee, 'Re' or 'Rs' is used by India's neighbours Pakistan, Nepal and Sri Lanka as well.
Finally, the Rupee will have a symbol like the Dollar ($) or the Euro (€) or the Pound (£).
ReplyDeleteRupee has become the fifth currency after Dollar($) , Pound (£), Euro(€) and Yen(¥) to have its own symbol.
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