Cabinet approves new rupee symbol

NEW DELHI, INDIA: The union cabinet Thursday approved the new symbol for the Indian rupee - an amalgam of the Devnagiri 'Ra' and the Roman capital 'R' without the stem.

The symbol, designed by an Indian Institute of Technology (IIT) postgraduate D. Udaya Kumar, was selected from among five shortlisted symbols before the cabinet, Information and Broadcasting Minister Ambika Soni said after the cabinet meeting.

"It is just a symbol," she told reporters.

The design is based on the Tricolour, with two lines at the top and white space in between. "It is a perfect blend of Indian and Roman letters: a capital 'R', and Devanagari 'ra', which represent rupiya, to appeal to international and Indian audiences," Kumar said.

(With input from CIOL)

©IANS