The symbol of Indian Rupee typifies India's international identity for money transactions and economic strength.Indian Rupee gets a new symbol and coupled with international community just like Dollar, Euro and Pound, India gets a new symbol for its currency Rupee.
The new sign is a combination of the Devanagari letter “Ra” and the Latin capital letter “R” without its vertical bar. The parallel lines at the top (with white space between them) are said to make an allusion to the tricolor Indian flag and depict an equality sign, which symbolizes the nation's desire to reduce economic disparity. The Indian Rupee sign was adopted by the Government of India on 15th July 2010. The first series of coins with the rupee symbol was launched on 8 July 2011. “In the ensuing year, we intend to formalize a symbol for the Indian rupee, which reflects and captures the Indian ethos and culture,” said Finance Minister Pranab Mukherjee in a statement. “With this, the rupee will join the select club of currencies such as the U.S. dollar, British pound sterling, euro and Japanese yen that have a clear distinguishing identity.”
The new symbol, designed by Bombay IIT post-graduate D Udaya Kumar, was approved by the cabinet today - reflecting that the Indian currency, backed by an over-trillion dollar economy, was finally making its presence felt on the international scene.
"It's a big statement on the Indian currency... The symbol would lend a distinctive character and identity to the currency and further highlight the strength and global face of the Indian economy," Information and Broadcasting Minister Ambika Soni told reporters after the cabinet meeting.