Currency symbol
A currency sign is a graphic symbol used as a shorthand for a currency's name, especially in reference to amounts of money. They typically employ the first letter or character of the currency, sometimes with minor changes such as ligatures or overlaid vertical or horizontal bars. Today, ISO 4217 codes are used instead of currency signs for most official purposes,[citation needed] though currency signs may be in common use in many other contexts. Few currencies in the world have no short-hand symbol at all.
Although many former currency signs were rendered obsolete by the adoption of the euro, having a new and unique currency sign — implementation of which requires the adoption of new unicode and type formats — has now become a status symbol for international currencies. The European Commission considers part of the success of the euro was the global recognition of the euro sign €. In 2009, India launched a public competition to replace the ₨ ligature it shared with neighboring countries.[1] It finalized its new currency symbol, ₹ (₹) on 15 July 2010. It is a blend of the Latin letter 'R' with the Devanagari letter "र".
Usage
When writing currency amounts the location of the sign varies by currency. Many currencies, especially in Latin America and the English-speaking world, place it before the amount (e.g., R$50.00); many others place it after the amount (e.g., 50.00 S₣); and the Cape Verdean escudo, like the former Portuguese escudo and French franc, placed its sign in the decimal position (i.e., 20$00).[2]
The decimal separator also follows local countries' standards. For instance, the United Kingdom often uses an interpunct as the decimal point on price stickers (e.g., £5·52), although not in print. Commas (e.g., 5,00 €) or decimal points (e.g., R$50.00) are common separators used in other countries. See decimal separator for information on international standards.
Design
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Older currency signs have evolved slowly, often from previous currencies. The dollar and peso signs originated from the mark employed to denote the Spanish real de a ocho, whereas the pound and lira signs evolved from an L standing for libra, a Roman pound of silver. Newly invented currencies and currencies adopting new signs have symbolism closer to their adopter. The added center bar in the euro sign is meant to symbolize stability[3]. The new Indian rupee symbol, ₹, is a stylized combination of Latin and Devanagari letters.
There are also other considerations, such as the perception of the business community[citation needed] and how the sign is rendered on computers. For a new symbol to be used, software to render it needs to be promulgated and keyboards need to be altered or shortcuts added to type the icon. The EU was criticized for not considering how the euro sign was to be displayed;[1] the original design was also exceptionally wide, which has led to most displays employing altered versions with reduced width.
List of presently-circulating currency signs
List of historic currency signs
- ₳ Argentine austral sign
- ₢ Cr$ Brazilian cruzeiro sign
- ₰ pfennig sign of the German Mark (1875-1923) and the German Reichsmark (1923-1948)
- DM East German Deutsche Mark (east) sign (1948-1964)
- DM West German and united German Deutsche Mark (west) sign (1948-2001)
- ₯ Greek drachma sign
- ₠ ECU sign (not widely used, and now historical; replaced by the euro)
- ƒ Dutch gulden sign, currently used in the Netherlands Antilles and Aruba
- ₣ franc sign, formerly used in France and other countries
- ₤ lira sign, formerly used in Italy, San Marino and Vatican City, and sometimes in Malta
- Lm Maltese lira sign
- Kčs Czechoslovak koruna sign
- M East German Mark der DDR sign (1968-1990)
- ℳ German Mark sign (1875-1923)
- MDN East German Mark der Deutschen Notenbank sign (1964-1968)
- mk Finnish markka sign
- $ Portuguese escudo sign (cifrão)
- ₧ Spanish peseta sign
- ℛℳ German reichsmark sign (1923-1948)
- Sk Slovak koruna
- ₶ Livre tournois sign, used in medieval France.
See also
References
- ^ a b Westcott, K. (2009) India seeks rupee status symbol, BBC 10 March 2009, accessed 1 September 2009
- ^ Banco de Cabo Verde. "Moedas." Accessed 25 Feb 2011.
- ^ "The Euro. Our money" (PDF). ECB. p. 3. Retrieved 2011-05-21.
- ^ Banky Foiben'i Madagasikara. Accessed 24 Feb 2011.
- ^ [www.bankofguyana.org.gy Bank of Guyana]. Accessed 25 Feb 2011.
- ^ Centrale Bank van Aruba. About Us - A Brief History of the Bank." Accessed 23 Feb 2011.
- ^ a b Forexforums.com. "Currency symbol finder." Accessed 24 Feb 2011.
- ^ National Bank of Rwanda. "Legal tender." Accessed 25 Feb 2011.
- ^ University of British Columbia: Saunders School of Business. "Currencies of the World." Accessed 25 Feb 2011.
- ^ Lonely Planet. "Rwanda." Accessed 25 Feb 2011.
- ^ Banco de Moçambique. Accessed 25 Feb 2011.
- ^ Banque Centrale de Mauritanie. Accessed 25 Feb 2011.
- ^ Bank of Mauritius. Accessed 25 Feb 2011.
- ^ Nepal Rastra Bank. Accessed 24 Feb 2011.
- ^ Central Bank of Seychelles. Accessed 25 Feb 2011.
- ^ Central Bank of Somalia. Accessed 24 Feb 2011.
- ^ The Reserve Bank of Vanuatu. "Current Banknotes and Coins in Circulation." Accessed 25 Feb 2011.
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