Major countries in the world have distinct identification symbols for their currency - $ represents the US Dollar, £ is used for GBP(British Pound Sterling), € for Euro, etc.Use this link to view Worlds currency symbols, but there’s still no official currency sign for the Indian Rupee.

While symbols like Rs and रू are commonly used to represent the Indian Rupee, these are no official currency signs and therefore the Government of India has now announced a public contest to pick up a sign that will represent the currency of India.

The entries should be sent in a properly sealed envelope labelled “Entry for Symbol for the Indian Rupee” latest by 1300 hours on 15th April 2009 along with a bank draft of Rs.500.

This PDF form from the Ministry of Finance has full details of the competition. Some of the points are mentioned below

The currency symbol should be applicable to the standard computer keyboard and must also represent the historical and cultural ethos of the country as widely accepted across the country.The symbol has to be in the Indian National Language Script or a visual representation

Members from Reserve Bank of India and art institutes such as Sir JJ Institute of Applied Art, National Institute of Design, Lalit Kala Akademi, Indira Gandhi National Centre for the Art & Culture would comprise the jury that will select the winning currency design.

If you are a creative artist, this is your ultimate chance to create history .The Designer of the finally selected design will get a prize of Rs.250,000/-