Today a jury selected by the Indian government unveiled a new rupee symbol (pictured) to rival the internationally recognised the US dollar ($), the euro (€), the UK pound (£) and the Japanese Yen (¥).
The decision to create a new currency symbol reflects India’s aspiration to become a global player on international financial markets, in particular at a time when the Indian rupee has been strengthening against all major currencies.
The new symbol - or logo as some people have called it - also aims to distinguish India from its neighbours. Pakistan, Nepal and Sri Lanka all currently use the “Rs” abbreviation to refer to the their local rupee.
Earlier this year Pranab Mukherjee, India’s finance minister, said that the government “intends to formalise a symbol for the Indian rupee, which reflects and captures the Indian ethos and culture”.
So, in classic Indian style, the ministry organised an open competition to design the new symbol. The prize set for the winner was Rs250,000 ($5,352) in cash. And the winner was…Udaya Kumar, a post-graduate student at Mumbai’s Industrial Design Centre, which is part of one of India’s elite institutes of technology (IITs).
http://gulfnews.com/news/
The new symbol - or logo as some people have called it - also aims to distinguish India from its neighbours. Pakistan, Nepal and Sri Lanka all currently use the “Rs” abbreviation to refer to the their local rupee.
Earlier this year Pranab Mukherjee, India’s finance minister, said that the government “intends to formalise a symbol for the Indian rupee, which reflects and captures the Indian ethos and culture”.
So, in classic Indian style, the ministry organised an open competition to design the new symbol. The prize set for the winner was Rs250,000 ($5,352) in cash. And the winner was…Udaya Kumar, a post-graduate student at Mumbai’s Industrial Design Centre, which is part of one of India’s elite institutes of technology (IITs).
http://gulfnews.com/news/
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