The new symbol of rupee: It is a step towards _ _ _ _ _ _ _

Evoking national spirit and international attention the Indian rupee attained a new avatar in its new symbol. A distinct identity with a blend of the Devanagri ‘Ra' and Roman ‘R', the Indian currency will be joining the elite club of the U.S. dollar, the European euro, the British pound sterling and the Japanese yen.

This would distinguish the Indian currency from its neighbouring countries' — Pakistan, Nepal, Sri Lanka and Indonesia similarly known rupee or rupiah.

“With this, Indian rupee will join the select club of currencies such as the U.S. dollar, British pound sterling, euro and the Japanese yen that have a clear distinguishing identity.” I think it is a step towards globalisation.  would like to know others view here and their ideas too...

We are the fifth nation towards making an identity for the currency. This is revealing the strength of the currency

The growth story of India is intact and many would be interested in correlating the new symbol with its economic growth and ambition to become an economic super power.

However, the introduction of the new symbol is having a political dimension. While Pranab Mukherjee spoke about ethos of the country in Parliament, it was definitely, on the largest democracy of the world. As compared to other Asian powers, especially China, India's strength lies in its democracy.

This new symbol is also considered as a step towards internationalisation of Indian rupee.  While the U.S. dollar, the British pound, the euro and the Japanese yen are widely traded currencies, Indian rupee is only partially convertible.

Further, majority of world's currencies are also floating. Convertible currencies are defined as currencies that are readily bought, sold and converted without the permission from a central bank or government entity. The Indian rupee is only partially convertible as the central bank controls the international investments flowing in and out of the country.

By creating a symbol for the rupee, the government has sent a not so subtle reminder to the economies of the world that India has arrived on the international economic scene! With one of the largest Foreign Exchange Reserves, a bustling economy, a major destination for exports from other countries, a strong military power etc, this is India's way of saying to all the major Economic powers - WE ARE UP THERE WITH YOU !!!

Creating an identity for one of major ECONOMIES OF THE THIRD WORLD. We are stepping in GLOBALIZATION.