Mumbai: The Indian rupee will get a distinct symbol like the US dollar, British pound and Japanese yen, Finance Minister Pranab Mukherjee told Parliament yesterday.
"In the ensuing year, we intend to formalise a symbol for the Indian rupee, which reflects and captures the Indian ethos and culture," Mukherjee announced in his budget speech in Parliament.
"With this, Indian rupee will join the select club of currencies such as the US dollar, British pound sterling, euro and Japanese yen that have a clear distinguishing identity," he said.
The Indian rupee is currently indicated by the abbreviation ‘Rs', but the same abbreviation is also used to denote the Pakistani, Nepalese and Sri Lankan rupees.
Designers invited
The federal government will invite designs from the public for the new symbol and the shortlisted designers will present their designs to a jury comprising government officials and designers.
