It has been announced that the Indian rupee will have its own symbol form now onwards. The symbol is a mix of the Devanagri ‘Ra’ and Roman ‘R’. This new symbol for the Indian rupees has been designed by Mr. D. Uday Kumar.

However, the symbol is yet to be approved by the Union Cabinet. This has been informed by the Union Information and Broadcasting Minister Ambika Soni.

She has conducted a press meet after the Cabinet meeting.

Now the Indian rupee has become the fifth currency in the world to have its own symbol. It is followed by U.S. dollar, British pound-sterling, Euro and Japanese yen that had their own symbol earlier.

The Indian rupee will now join the elite club of such currencies. The Union I&B Minister has also informed that this symbol will be printed or embossed on all currency notes or coins.

The designer of this symbol Mr. D. Uday Kumar is a post-graduate from IIT Mumbai. Among 3,000 designs, his design has been selected for the purpose and he will receive an award of Rs. 2.5 lakhs.