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The Indian rupee will have its own unique symbol, a mix of the Devanagri ‘Ra’ and the Roman capital ‘R’ without the stem.

The rupee will become the fifth currency in the world to have a distinct identity. It will join the elite club of major currencies like US dollar, British pound-sterling, Euro and Japanese yen to have its own symbol that is recognizable worldwide.

The currency symbol is designed by IIT Mumbai post-graduate D Uday Kumar. A five-member panel shortlisted five symbols for the Indian rupee from among 3,000 designs competing for the currency symbol. The Cabinet was expected to give its nod on June 24 as was mentioned in the Indian media. Today, the verdict is out! Kumar’s symbol is approved by the Union Cabinet. He will get a prize money of Rs 2.5 lakhs.

Shortlisted Symbols

The media had reported last month that the new rupee symbol would come from a shortlist of the following five designs. These signs are simple, easy to write and are specially designed to appeal to Indian and international community. It was all wrong! Kumar’s symbol was not in this shortlist.

The government will try that the symbol is adopted within six months in the country and globally within 18 to 24 months.

The symbol will be printed or embossed on currency notes or coins. It will feature on computer key boards and softwares so that it can be printed and displayed in electronic media and print.

The unique symbol will also help in distinguishing the Indian currency from rupee or rupiah of countries like Pakistan, Nepal, Sri Lanka and Indonesia.

Indian Rupee To Get New Symbol

This news was telecast on June 23, 2010.