New Symbol for the Indian Rupee

Perhaps inspired by the innumerable reality shows that throng TV channels, the Govt of India too decided to take the plunge and announce their very own reality contest. On March 5, 2010, A symbol designing competition was announced where participants had to come up with a unique design that would represent the Indian currency. A prize money of 2.5 lakhs was also declared.

Currently, 5 symbols have been shortlisted and one of them will be chosen by the Govt of India. Almost all of them are based on the Devanagari “Ra” symbol and are easy to reproduce.

It was finance minister Pranab Mukherjee who proposed the idea of a unique symbol for the Indian Rupee.This move will place India among the few countries in the world that have unique symbols. India will join the likes of USA (Dollar), UK(Pound Sterling), Japan(Yen) and the Europe(Euro) very soon. This move will also give a much needed image boost to the Indian currency in the world market.