Finally, the Rupee will have a symbol like the Dollar ($) or the

Euro (€) or the Pound (£). The Cabinet today finalised the design for

the Rupee.

The government had organised a symbol design competition

with a prize money of Rs 2.5 lakh. Five designs were shortlisted from a

competition and all new notes will bear the design finally approved.

The growing influence of the Indian economy in the global space

is said to have prompted this move that will result in the Indian rupee
joining the select club of global

currencies like the US dollar, the British Pound, European Euro

and Japanese Yen that have unique symbols.

The abbreviation for the Indian Rupee, ‘Re’ or ‘Rs’ is used

by India’s

neighbours Pakistan,

Nepal and Sri Lanka.