Union Cabinet Likely To Finalise Rupee Symbol On Thursday
New Rupee Symbol
The Union Cabinet is expected to finalise the design of the rupee on Thursday, sources said. The symbol has been taken from an IIT post-graduate named Udaya Kumar.
Earlier, in the budget this year, Finance Minister Pranab Mukherjee had said that there would be a new symbol for Indian rupee that should reflect and capture the Indian ethos and culture.
As per the information, the new rupee could be with the Hindi alphabet R with two lines. However, it would take about six months in India and about two years to make it recognized internationally.
"With this, the rupee will join the select club of currencies, such as the US dollar, British pound sterling, euro and Japanese yen that have a clear distinguishing identity,” Mukherjee added.
At present, the Indian Rupee is represented as 'Re' or 'Rs' that is also used by other neighboring nations like Pakistan, Nepal and Sri Lanka.