Thursday, August 27, 2009

Indian Rupee to get a currency symbol

Indian Rupee is not having any symbol, it is just denoted by Rupees or Rs. in short. So the Indian government has decided to give the Indian currency a symbol to get it recognized globally. All the major economies of the world are already having some symbols to represent their currency.

For this, Indian government invited designs from all over the country and has received around 2,500 designs. Now a committee headed by a Reserve Bank Of India (RBI) top official will meet to short-list some entries and designs.

The Finance Ministry has asked that the selected symbol should represent the historical and cultural ethos of traditional India. The symbol should also be applicable to a standard computer keyboard. Currently, it is in the evaluation phase, so it will take some time to finalize the symbol. But soon Indian currency will have a symbol helping it to achieve a global status and representation.

A committee headed by a Reserve Bank Of India (RBI) shortlisted five symbols and now on 15th July 2010, Union Cabinet has declared the final symbol for Indian Rupee. This new symbol is a perfect blend of modernity and Indian culture.

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