Indian Rupee finally gets its symbol
Finally, the Rupee will have a symbol like the Dollar ($) or the Euro (€) or the Pound (£). Information and Broadcasting Minister Ambika Soni announced this, saying the Rupee had now arrived on the international platform in sync with universal standards.
The Cabinet approved the design today. Soni would not commit to a date by when the symbol would be officially in use but said it would take about six months in India and about two years to make it recognized internationally.
IIT post-graduate Uday Kumar's entry has been selected out of five short-listed designs as the new symbol for the Indian Rupee. The government had organized a symbol design competition with a prize money of Rs. 2.5 lakh.
Five designs were short-listed from a competition and all new notes will bear the design finally approved.
The growing influence of the Indian economy in the global space is said to have prompted this move that will result in the Indian rupee joining the select club of global currencies like the US dollar, the British Pound, European Euro and Japanese Yen that have unique symbols.
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