Joining the club of other major currencies of the world like the US dollar, the pound sterling, the yen and the euro among others, the Indian rupee too is set to get its unique identification symbol that is recognisable worldwide.
In February 2009, the Finance Ministry had invited Indian residents to participate in a competition for designing a 'symbol for the Indian rupee', the results of which are to be announced today. Five designs have been shortlisted by the government after this all-India contest, of which one will be denoted as the symbol for the rupee.
These signs are easy to write and are specially designed to appeal to Indian and international community.
A symbol reflecting the Hindi alphabet 'R' is likely to be approved.
Reserve Bank of India's Executive Director HR Khan feels a symbol for the rupee was absolutely necessary. "Every currency has a symbol so we thought that the Indian currency should also have a symbol. It is more of a symbolic value because we are an emerging power and most countries have some symbol with acts as an identification for the currency worldwide."
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