New Look Rupee

India was one of the earliest issuers of coins (circa 6th century BC) and now, in the 21st century,  our currency is getting a make over. With the approval by Union Cabinet the Rupee will be the fifth currency in the world after the US Dollar, the UK Pound, the Euro and the Japanese Yen to have its own symbol.

The new symbol is a blend of the Devanagari ‘Ra’ and the Roman capital ‘R’ without the stem. The parallel lines at the top (with white space between them) make an allusion to the tricolor Indian flag. The Indian government will adopt the symbol within six months in the country and globally within 18 to 24 months

In March, 2009 the Indian Government announced a contest to create a symbol for the Rupee. During the Union Budget 2010 Finance Minister Pranab Mukherjee mentioned that proposed symbol would reflect and capture the Indian ethos and culture. Five symbols had been short listed and one of them was to be finalized at the Union Cabinet meeting held in June 2010. The decision was deferred by a request of the Finance Minister, and it was decided when they met again today, 15 July 2010 to finalise the new symbol.

Finally the Indian currency has a new look and we have adopted the symbol created by IIT alumnus D Udaya Kumar.

India is a country with the propensity to dress up things and overstate everything. Our politician would have us believe that this make over of our currency is the recognition of the importance of the India in the World Economic senario. No doubt India is a big player in the World economic stage but there are thousand of more important things that need attention. This new look Rupee is not going to wipe away the economic ills of the ‘Elephant Economy’.

Photo : Copyright with Hindustan Times

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