Indian rupee gets a symbol, joins elite currency club

India has finally got a symbol for the Rupee and joined a select club of countries whose currencies have an unique identity. The Union Cabinet approved the design, which includes both the Devnagiri 'Ra' and the Roman capital 'R' and has two parallel lines running at the top. 

The parallel lines symbolise the equal to sign.

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 and it will feature on computer keyboards and softwares for worldwide use. 

The symbol, which reflects the Indian ethos and culture, would help distinguish the currency from the rupee or rupiah of other countries like Pakistan, Nepal, Sri Lanka and Indonesia as they are also using Rs.