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गुरुवार, जुलाई 15, 2010

New Indian Rupee Symbol

Indian Rupee Gets a New Currency Symbol India’s currency, the rupee, now has its own symbol, thanks to Indian Institute of Technology post-grad D Udaya Kumar, whose design was chosen in a national contest. Kumar will get an award of Rs 250,000, nearly $5,400–and India will get a new currency symbol.

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The new symbol is a mix of Devanagri ‘Ra’ and Roman ‘R’. Ambika Soni, Information and Broadcasting Minister said after a cabinet meeting to the reporters that the symbol will be printed on Indian currency notes and coins.

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.  

Though the symbol will not be printed or embossed on currency notes or coins, it would be included in the 'Unicode Standard' and major scripts of the world to ensure that it is easily displayed and printed in the electronic and print media.

Among currencies with distinctive identities, only the pound sterling has its symbol printed on the notes.

Unicode is an international standard that allows text data to be interchanged globally without conflict. After incorporation in the global and Indian codes, the symbol would be used by all individuals and entities within and outside the country.

The symbol will be adopted in a span of six months in the country, and within 18 to 24 months globally, Soni said, adding that it will feature on computer keyboards and softwares for worldwide use. 

The jury, which had sent the five short-listed entries for the cabinet's approval, was headed by a Reserve Bank Deputy Governor.   

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