Cabinet to decide on Rupee symbol today
The Rupee will get its own unique symbol as the Union Cabinet is expected to approve the final design of Indian currency on Thursday.
New Delhi: The Rupee will get its own unique symbol as the Union Cabinet is expected to approve the final design of Indian currency on Thursday
With this, the rupee will join the elite league of global currencies like US dollar ($), British pound sterling (£), euro and Japanese yen (¥) which have their unique symbols.
While these foreign currencies have their own unique symbols, other than their abbreviations like USD and GBP, Rupee is only referred to by the abbreviation ‘Rs’. Moreover, the same abbreviated forms are also used in neighbouring countries like Pakistan, Nepal and Sri Lanka.
The decision to have a symbol for Rupee was taken by the government last year. It was also decided to invite designs from the public for the new symbol. Government had onstituted a seven-member jury, comprising of officials from the government and RBI as also people from institutes like JJ Institute of Applied Art, National Institute of Design, Lalit Kala Akademi and Indira Gandhi National Centre, to decide on the symbol.
According to a media report, the committee has zeroed in on a Hindi letter ‘R’ with a double-slash.