Saturday, May 16, 2009

Do Not Omit the Rupee

The "strength" of a country's currency can sometimes be a matter of national pride (or embarrassment), but this is a new one... the Washington Post reports:
It has a venerable culture. It has growing economic might. But what India doesn't have is a currency symbol that reflects those things, according to its government, which has launched a public competition to find one.

Unlike other major currencies such as the U.S. dollar, the British pound, the euro and the Japanese yen, the Indian rupee lacks an easily recognizable identification symbol -- a logo to set beside the $, the £, the € and the ¥. It is currently depicted around the world as either "Rs" or "INR" and is designated differently in various Indian languages.

In March, the Finance Ministry called for suggestions for a logo in a nationwide contest. It attracted about 3,000 entries before it closed April 15.

We eagerly await the winner.


Esen said...

This is funny since among currency traders as well as importers and exporters, US Dollar is generally referred to as USD. They don't always use the $ or other signs for currencies.
I also think it would be interesting to ask our students whether they could draw Yen's, Euro's or Pound's sign on the board.

Bill C said...

Yeah, I'd think its easier in some ways to use regular letters. I wonder if their symbol will catch on in terms of getting added to all the computer software... Of course, if they the Rupee gets a symbol, other countries will want one too.