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Indian rupee symbol in graphic form. The new sign is a combination of the Devanagari letter र ("ra") and the Latin capital letter R without its vertical bar. The parallel lines at the top (with white space between them) makes an allusion to the tricolour Indian flag and also depict an equality sign that symbolizes the nation's desire to reduce economic disparity.
The Indian Rupee (symbol: ₹; code: INR) is the official currency of the Republic of India. The rupee is subdivided into 100 paise (Hindi plural; singular: paisa). The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank derives this role from powers vested to it by the Reserve Bank of India Act, 1934.
On 15 July 2010, India introduced a new currency symbol, the Indian rupee sign, ₹. This sign is a combination of the Devanagari letter र ( ra ) and the Latin capital letter R without its vertical bar (similar to the R rotunda ).
A currency symbol or currency sign is a graphic symbol used to denote a currency unit. Usually it is defined by a monetary authority, such as the national central bank for the currency concerned. A symbol may be positioned in various ways, according to national convention: before, between or after the numeric amounts: €2.50 , 2,50€ and 2 50 .
Rupee is derived from rupya or rūpiya, which was used to denote various coins in usage since 4th century BCE. [54] The Indian rupee symbol, adopted in July 2010, is a combination of Devanagari "Ra" and the Roman letter "R" with two parallel horizontal lines at the top which represent the national flag and indicate equality. [52] National calendar
Udaya Kumar Dharmalingam is an Indian academic and designer noted for his design of the Indian rupee sign. [1] His design was selected from among five short listed symbols. [2] According to Kumar, the design is based on the Indian tricolour. [3] As of December 2019, he is the Head of the Department of Design at IIT Guwahati, Assam. [4]
The most commonly used symbol for the rupee is "₨". India adopted a new symbol (₹) for the Indian rupee on 15 July 2010. In most parts of India, the rupee is known as rupaya, rupaye, or one of several other terms derived from the Sanskrit rūpya, meaning silver.
The Indian numbering system is used in Indian English and the Indian subcontinent to express large numbers. Commonly used quantities include lakh (one hundred thousand) and crore (ten million) – written as 1,00,000 and 1,00,00,000 respectively in some locales . [ 1 ]