Indian rupee has become the fifth currency in the world to get an identity of its own
. The central government has given it a new symbol on 15th July, 2010.The currency symbol for Indian rupee has been designed and created by Mr. D. Udaya Kumar who is a teacher in Indian Institute of Technology in Bombay.
The symbol is a combination of English alphabet R and the Devanagari script. The symbol of the Indian currency has already created a degree of interest in the country. To give the symbol its official status, approval of Unicode Consortium is necessary. It may take about one and a half year to get such an approval. The symbol has to be included in the keyboard of the computers and it can be used only after Bureau of Indian Standard issues necessary notification to this effect. Once this notification is issued the government is expected to issue orders for including the symbol in the keyboard of the computers. Computer experts are of the opinion that developing the new keyboard will not pose any major technical problem.
After all these formalities are over the manufacturers are expected to get the instructions from the competent authority to make the new version of computers and market them through retailers.
Another important function in this matter is the central government's directives to national association of software companies (Nasscom) to inform the information technology sector to apprise all the firms to include the new rupee symbol in their software system and programming. Thus it can be concluded that with the introduction of the new identity the rupee will get a new status.