This Symbol is a combination of the Devanagari ‘Ra’ and the Roman capital ‘R’ without the stem and two parallel lines running at the top which represents equal to sign it is very much in line with what Finance Minister Pranab Mukherjee had envisioned.
The basic aim of the new symbol is to provide the Indian rupee international recognition as the country’s economy exerts more influence in the global space, the unique sign will also help isolate the currency from the current abbreviation ‘Rs’ which is used by neighbouring Pakistan, Nepal and Sri Lanka.
The Ministry had organised a symbol design competition with a prize money of Rs 2.5 lakh. IIT post-graduate D Udaya Kumar’s design from among five shortlisted symbols and recommended it for Cabinet approval.
Source - http://www.squamble.com/2010/07/16/a-new-rupee-symbol-announced/
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