Central Banking

India approves new currency symbol


India's Cabinet on Thursday approved a new symbol to represent the rupee, which will be used as the reference worldwide once incorporated into the Unicode, a computing standard.

The symbol was chosen after a public design competition that attracted 3,000 entries, the government said. A committee, headed by Usha Thorat, a deputy governor of the Reserve Bank of India, picked the top five candidates, with the government making the final call.

"The symbol will standardise the expression for the Indi

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