Fri 07 Apr 2023:
Banknotes featuring King Charles III are currently being printed and are expected to enter circulation by mid-2024, according to the Bank of England (BoE), Anadolu Agency reported.
The Bank of England (BoE) revealed the design of the King Charles banknotes, stating that the king’s portrait will appear on all four polymer banknotes, £5, £10, £20, and £50, with no other changes to the existing designs.
According to the statement, Charles’ image will appear on the front of the banknotes as well as in a cameo in the see-through security window.
All polymer banknotes featuring a portrait of Queen Elizabeth II will also remain legal tender and in circulation.
“In line with guidance from the Royal Household, to minimize the environmental and financial impact of this change, new notes will only be printed to replace worn banknotes and to meet any overall increase in demand for banknotes. Notes featuring HM Queen Elizabeth II and King Charles III will therefore co-circulate,” the statement said.
“I am very proud that the Bank is releasing the design of our new banknotes which will carry a portrait of King Charles III. This is a significant moment, as the King is only the second monarch to feature on our banknotes,” Andrew Bailey, BoE governor, it quoted as saying.
People will be able to use these new notes when they enter circulation in 2024, according to Bailey.
SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES
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