India approves new symbol for its currency rupee

The Indian federal Cabinet on Thursday approved the new symbol for the Indian rupee

  • Rupee symbol
    A handout picture released by the Indian Press Information Bureau (PIB) shows the new symbol for the Indian ru Image Credit: AFP
  • Rupee symbol
    Research scholar at the Indian Institute of Technology D. Udaya Kumar displays the new symbol of the Indian cu Image Credit: AP
  • Rupee symbol
    A TV grab of Information and Broadcasting minister Ambika Soni releasing the new symbol for the Indian rupee. Image Credit: Gulf News

New Delhi: The Indian 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 symbol, designed by Indian Institute of Technology (IIT) postgraduate D. Udaya Kumar, was selected from among five shortlisted symbols before the Cabinet, Information and Broadcasting minister Ambika Soni said after the cabinet meeting. "It is just a symbol," she told reporters.

For Indians used to seeing the dollar symbol on the keyboard, this will be a welcome change. It will be just a matter of a few months for India's new rupee symbol to be a part of the software code to be easily accessible to users across the world, according to technology vendors.