Currencies which are prominently used in the global economy have their respective symbols – be it US Dollar, Pound Sterling or Euro. The Indian Rupee has now joined the league of these currencies with its own symbol and we must owe it to D Udaya Kumar, an IIT post graduate for giving the Rupee its signature.

D Udaya Kumar’s design was chosen from a long line of competing entries which came in for the all-India contest. The Union Cabinet meeting with Prime Minister Manmohan Singh at its helm also gave their nod of agreement.  Information and Broadcasting Minister Ambika Soni declared the cabinet decision by saying, "It denotes the robustness of the Indian economy."

"The symbol for the Rupee would lend a distinctive character and identity to the currency and further highlight the strength and robustness of the Indian economy as also a favoured destination for global investments," said an official statement.

The symbol’s significance comes into play as it will distinguish the Indian Rupee from the currencies of Nepal, Pakistan, Sri Lanka and Indonesia which are also referred to by the name “Rupee”. The symbol will be implemented all over the country in the coming year and will be popularized worldwide in the next couple of years.