The rupee is a common name for the currency of many countries like India, Maldives, Pakistan, and Nepal. The sign ₹ represents the new symbol of the monetary unit of India. The government of India presented it to the public in 2010, chosen through an open competition among the Indian people, believing that it represents Indian culture the best. Initially, this new symbol is based on the Devanagari (Indian script) letter ‘R,’ but it also gives an impression of the capital letter R of the Roman language.
Therefore, this sign can be considered a mixture of these two letters. According to its designer, Uday, only a symbol related to the Devanagari script can express Indian feelings. The upward parallel lines (including the space between them) give the impression of the Indian flag.