The Union Cabinet is expected to finalise the design of the rupee on Thursday.
It is expected to give its nod to the numerical representation for the Indian rupee that could be the Hindi alphabet R with two lines.
In the budget this year, the finance minister, Mr Pranab Mukherjee, had said in the ensuing year, we intend to formalise a symbol for the Indian rupee, which reflects and captures the Indian ethos and culture.
"With this, the rupee will join the select club of currencies, such as the US dollar, British pound sterling, euro and Japanese yen that have a clear distinguishing identity, he added.
Currently, the abbreviation of the Indian Rupee, "Re" or "Rs" is also used by Pakistan, Nepal and Sri Lanka.