The Indian rupee is now bound to have its own symbol, which has been successfully approved by the union cabinet. The symbol would be a script mixture from Devanagari and roman fonts, and it would have the ‘Ra’ from the Devanagari script and an ‘R’ from the roman script. This has made the currency to become the fifth country in the world to have its own distinct identity.
The new currency symbol has been designed by D. Uday Kumar, an IIT Post Graduate, and his design has been approved by the Union Cabinet. The rupee would be the fifth country after the USD, Euro, Pound and the Yen, to have a symbolic currency recognition. The next step would be to print the symbol on the notes and distribute it in the money market, as per the Information and Broadcasting Minister.
Uday Kumar’s design has been chosen out of 3000 designs and he would be awarded Rs. 2.5 lakh for this achievement. According to the minister, she stated, that the symbol would be adopted in India in the span of six months and globally in the span of 18 to 24 months. The symbol would be adopted by software and computer programs so that it could be printed and would be available globally.
