The symbol of Indian Rupee typifies India's international identity for money transactions and economic strength. The Indian Rupee sign is an allegory of Indian ethos. The symbol is an amalgam of Devanagari "Ra" and the Roman Capital "R" with two parallel horizontal stripes running at the top representing the national flag and also the "equal to" sign. The Indian Rupee sign was adopted by the Government of India on 15th July, 2010.
The symbol, conceptualised and designed by Udaya Kumar, a post graduate in Design from Indian Institute of Technology Bombay, has been chosen from thousands of concept entries received by the Ministry of Finance through an open competition among resident Indian nationals. The process of establishing and implementing this new identity is underway through various digital technology and computer applications.