New face of British money unveiled
Designs for future UK banknotes featuring the image of King Charles III were revealed by the Bank of England (BoE) on Tuesday. The regulator says the new notes will enter circulation by mid-2024.
The portrait of the king will appear on the existing designs of all four polymer banknotes (£5, £10, £20, and £50) with no other changes. The king’s image will appear on the front of the banknotes, as well as in the see-through security window.
“This is a significant moment, as the King is only the second monarch to feature on our banknotes,” BoE Governor Andrew Bailey said in a statement.
The tradition of having reigning monarchs on banknotes started in 1960, when the £1 note depicting Queen Elizabeth II was introduced for everyday use. Coins, however, have featured the reigning monarch for centuries. The first coins featuring King Charles III were released by the UK Royal Mint on December 8.
Charles became king in September, succeeding his mother, Queen Elizabeth II, who passed away after 70 years on the throne.
Coins and banknotes featuring the late Queen will remain legal tender, allowing the public to carry on using them as normal, the BoE said.
For more stories on economy & finance visit RT's business section