In July 2010, the Indian Cabinet selected a new symbol for the Indian rupee. It is an amalgamation of Devanagari "र" (Ra) and the Roman "R" without the stem.
On March 5, 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 the Cabinet selected the definitive symbol on 15 July 2010.
The symbol is a blend of the Devanagari ‘र’ 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 and also depict an equality sign which symbolizes the nation's desire to reduce economic disparity.The Indian government will try to adopt the symbol within six months in the country and globally within 18 to 24 months.Prior to this, the most commonly used symbols for the rupee have been Rs., Re. or रू.
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