New Delhi: The Rupee will soon have a symbol to represent it like the dollar $ or the euro € or the pound £ do.
The Cabinet is expected to clear a design on Thursday. It will be the Hindi letter Ra with two lines.
So far, five designs have been shortlisted from a competition and all new notes will bear the design finally approved.
The decision to have a symbol for Rupee was taken by the government last year.
"In the ensuing year, we intend to formalise a symbol for the Indian rupee, which reflects and captures the Indian ethos andculture," Finance Minister Pranab Mukherjee announced in his Budget speech in Parliament.
While most foreign currencies have their own unique symbols, other than their abbreviations like USD and GBP, Rupee is only referred to by the abbreviation 'Rs'.