The King’s picture will seem on the entrance of the banknotes, in addition to in cameo within the see-through safety window.
The brand new notes are anticipated to enter circulation by mid-2024. All polymer banknotes carrying a portrait of HM Queen Elizabeth II stay authorized tender, and the general public can proceed to make use of these as regular. According to steering from the Royal Family, to minimise the environmental and monetary influence of this modification, new notes will solely be printed to exchange worn banknotes and to fulfill any total enhance in demand for banknotes. Notes that includes HM Queen Elizabeth II and King Charles III will due to this fact co-circulate.
Talking forward of the discharge, Governor Andrew Bailey mentioned: “I’m very proud that the Financial institution is releasing the design of our new banknotes which can carry a portrait of King Charles III. This can be a vital second, as The King is simply the second monarch to function on our banknotes. Individuals will have the ability to use these new notes as they begin to enter circulation in 2024.”