Very soon we will stop writing Rs. for Indian rupees and instead will start using as we now have a sign for Indian rupee just like other currencies like the dollar sign “$”, the Pound sign “£”, and the Euro sign “€”.
On July 15, 2010, the Rupee symbol has been selected by the five member panel. The design chosen was submitted by IIT post-graduate D Udaya Kumar. The new rupee symbol is an amalgam of the Devnagiri ‘Ra’ and the Roman capital ‘R’ without the stem.
The rupee will join the elite club of US dollar, British pound-sterling, Euro and Japanese yen to have its own symbol.
The symbol will be printed or embossed on currency notes or coins, information and broadcasting minister told reporters after the cabinet meeting.
Kumar’s entry was chosen from among 3,000 designs competing for the currency symbol. He will get an award of Rs 2.5 lakhs.