UK Today News: Indian Rupee To Be Denoted By A Symbol – Five Rupee Symbol Designs Shortlisted, Decision To Be Made Today
Rupee Symbol – The Indian rupee is all set to be recognized with it’s very own symbol for the first time ever. This new move to have a symbol to denote India’s currency, the rupee — much the same way as the symbol for the dollar, or for the pound — will be creating history in its own right.
The five shortlisted Rupee Symbol designs
This new symbol has been created to give the Indian rupee an identity, and it will now make it easily recognized around the world. In addition to this, the new rupee symbol will take the Indian currency into the club of internationally recognizable currencies, such as the Euro, Pound, Dollar, Sterling among many others.
According to the Indian Finance Ministry, the ‘change’ factor seems to have gathered momentum around the world and has hit India and its currency too. The Government of India conducted a competition involving the general public in order to come up with an ‘Innovative symbol for Indian Rupee’.
Reports say that five designs were shortlisted from over 25,000 applications, and each of these designers will receive Rs. 25 thousand irrespective of their symbol making to the final selection. The winner will get a grand price of Rs. 2, 50, 00.
The Cabinet Ministers will finalize the symbol on Thursday and sources say that chances are that a symbol reflecting the Hindi alphabet ‘R’ is most likely to be accepted.