New RS. Symbol?

One may not necessarily know either Jitiesh Padamshali, Shahrukh J. Irani, D. Udaya Kumar, Nondita Correa Mehrothra or Shibin K K but if all goes well, then the new symbol of the Indian rupee will be the design work of one of the five. A new symbol for the Indian rupee (which till date is abbreviated as Re, Rs. or INR) will ensure that it joins the select elite club of major currencies like US dollar, European euro, British pound and Japanese yen all of which have a unique identification symbol. It is perhaps the growing influence of the Indian economy that has promoted the Indian government to initiate the move to have a unique symbol for the currency and is intended to convey the brand value of the currency and the nation, one which takes into account Indian ethos and culture. As a matter of fact, the initiative could not have come at a better time when whispers for a new global currency are only growing louder day by day. Nevertheless the moot question is will this make the Indian currency internationally acceptable for trading or is it a mere cosmetic improvement?

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Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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