Indian Rupee has a new Symbol

Its was being discussed for quite a while now, the Indian Rupee having a new symbol of its own, like the Dollar, the Euro and the sorts. The Indian Government had asked citizens to submit designs that could be submitted scrutinised and selected for the Indian Rupee, well it is done. The Indian Rupee Symbol has been picked out of all the designs that were submitted to the government today. Lo and behold you are looking at the new symbol of the Indian Rupee. Ministers made their final decision at a cabinet meeting after examining a shortlist of five designs based around the letter “R” as drawn in the Roman alphabet and the ancient Devanagari script used in Hindi.

“This establishes the arrival of the Indian currency as a robust currency on an international platform and I think every Indian should be proud about it,” Ambika Soni, minister for information, told reporters. ”Some of us in the cabinet tried to write it out and it is not difficult at all,” she said. The rupee is currently referred to by the abbreviations “Rs”, “Re” or “INR”, though it remains uncertain whether the new symbol will be widely taken up.

Uday Kumar, a post-graduate student at the Indian Institute of Technology, designed the symbol which beat 3,000 other entries to win a cash prize of 250,000 rupee (5,350 dollars). The government plans to introduce the symbol on computer keyboards shortly and to have it in regular international use within two years. India’s economy has experienced rapid growth since liberalisation reforms in the early 1990s reduced controls on foreign trade and investment.