New Delhi: The Union Cabinet on Thursday selected the symbol for
rupee, which is an amalgamation of the Devanagri 'Ra' and the Roman 'R' without the stem. Addressing a press conference here, Minister for Information and Broadcasting
Ambika Soni said: "The symbol, designed by an Indian Institute of Technology (IIT)
postgraduate D Udaya Kumar, was selected from among five shortlisted symbols before
the Cabinet." "It would soon be incorporated in all spheres of the economy," she
added. "It might take 18 months to two years for the international community to
incorporate the new symbol of the rupee," she said. In the budget this year, Finance
Minister Pranab Mukherjee had said in the ensuing year, we intend to formalise
a symbol for the Indian rupee, which reflects and captures the Indian ethos and
culture. "With this, the rupee will join the select club of currencies, such as
the US dollar, British pound sterling, euro and Japanese yen that have a clear
distinguishing identity, he added.
