Thursday, July 15, 2010

Indian Rupee (INR) gets an unique identity

, India has finally got a symbol for the Rupee and joined a select club
of countries whose currencies have an unique identity. The Cabinet on
Thursday approved the new symbol for the Indian rupee - an amalgam of
the Devnagiri 'Ra' and the Roman capital 'R' without the stem. The
Rupee will join the select club of global currencies like the US
dollar, the British Pound, European Euro and Japanese Yen that have
unique symbols. The growing influence of the Indian economy in the
global space has prompted this move.
Presently, the abbreviation for the Indian Rupee, 'Re' or 'Rs' is used
by India's neighbours Pakistan, Nepal and Sri Lanka as well.
It would take about six months in India and about two years to make it
recognized internationally. All new notes will now bear the symbol