The British central bank issued banknotes with the image of the new king Charles III for the first time. presented. The £5, £10, £20 and £50 banknotes are expected to enter circulation in mid-2024, the Bank of England said on Tuesday.
However, older notes featuring the portrait of Queen Elizabeth II, who died in September, remain valid to minimize costs and environmental impact at the request of the palace, the statement said.
“Important Moment”
Federal Reserve Chairman Andrew Bailey described the launch of the new banknotes as a “significant moment” as Charles is only the second monarch to feature on UK banknotes.
Unlike coins
Unlike on coins and stamps, the 74-year-old royal is not depicted in profile, but head-on, with his face turned slightly to the side.
According to the information, no changes have been made to the rest of the design of the notes.
Paper slips abolished
The British central bank has recently replaced banknotes, which used to be made of paper, with resistant plastic notes. Paper money is no longer accepted, but can still be exchanged for current notes at the central bank.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
