The Indian Rupee now will have a symbol like the Dollar ($) or the Euro (€) or the Pound (£). The Cabinet today finalized the design for the Rupee. The symbol, with a blend of the Devanagri ‘Ra’ and Roman ‘R’, was approved by the Union Cabinet to distinguish the Indian currency from the rest, such as the rupee or the rupiah of Pakistan, Nepal, Sri Lanka and Indonesia.
The symbol would be included in Unicode Standard and major scripts of the world so as to ensure that it is easily displayed and printed in the electronic and print media. Unicode is an international standard that allows text data to be interchanged globally without conflict.
The symbol is designed by Bombay IIT post-graduate D. Udaya Kumar. Mr. Kumar's winning entry was chosen from 3,000 designs received for the currency symbol competition. He will get an award of Rs. 2.5 lakh from the Finance Ministry.
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