The New Face of Indian Currency AÐMIN 3:20 AM

At last, Indian rupee gets an unique symbol to distinguish itself from other currencies. This rupee design is developed by D Udaya Kumar, who is with the Dept. of Design at IIT Gwahati. According to him, this design is based on Indian tricolor. In this new design, a perfect blend of Roman ‘R’ and Sanskrit ‘Ra ’ can be found. By having this unique sign, Indian rupee has joined the elite club of currencies who have their distinctive symbol like US dollar, British pound, European euro and Japanese yen.
The symbol will distinguish the Indian currency from currencies of other countries like Pakistan, Nepal, Sri Lanka and Indonesia, which also use the word "rupee" or "rupiah" to identify their respective currencies.
For a booming economy like India, this new sign will represents its power and reliability in front of whole world. According to the ministry, this sign will be familiarized within the country in next 6 months and internationally 13 -14 months.

Gulf Rupee - An Introduction AÐMIN 5:46 AM

In between 1959- 1966, a special kind of currency was in use in the countries of Arabian Peninsula and Persian Gulf. This currency was known as the Gulf rupee or the Persian Gulf rupee. This currency was issue by the Indian Government and the Reserve Bank of India and was equal to the Indian mainland rupee. The serial number of the notes was usually starts with a ' Z ' alphabet.

At the beginning of the 20th century, the Indian rupee was used extensively as the legal tender in the countries of the Arabian Peninsula and the Persian Gulf. To diminish the burden put on India’s foreign reserves by gold smuggling by this extraneous use of rupee, an individual currency was created. The Government of India launched the Gulf rupee in 1959 as a substitute for the Indian rupee. This currency was introduced exclusively for circulation outside the country. Indian Government devalued the Gulf rupee on 6 June 1966 after many countries in that region has come up with their own legal tender.