Notes featuring the King's portrait will enter circulation in mid-2024, says the Bank of England.
Cost of living correspondent
The portrait will be the only change to existing designs of £5, £10, £20 and £50 notes and will start to enter circulation from mid-2024.Existing notes will still be accepted in shops after the new notes begin to circulate. There are about 4.5 billion individual Bank of England notes worth about £80bn in circulation at present.The Bank of England said that, following guidance from the Royal household, the new notes would only be printed to replace worn notes or to meet increased demand, in order to minimise the environmental and financial impact of the change.
An estimated 4.9 million of the new coins are being distributed to post offices - about half of the total number earmarked for circulation - to be given in change to customers.Coins carrying the image of the late Queen will still be accepted in shops, in the same way as banknotes.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First banknotes featuring King Charles unveiledThe notes will gradually replace those featuring his mother, Queen Elizabeth II, and enter circulation from the middle of 2024.
Read more »
Princess Anne named hardest working Royal for 2nd year – beating King CharlesThe Princess Royal, 72, has beaten her older brother King Charles, 74, to being crowned the hardest working member of the Royal Family for a second year in a row
Read more »
Man charged with threatening behaviour after eggs thrown at King CharlesBREAKING: A man has now been charged with ‘threatening behavior' after eggs were thrown at King Charles on a Royal tour.
Read more »
Student, 23, charged after eggs thrown at King Charles in YorkThe 23-year-old man will appear in court next year after being charged with a public order offence.
Read more »
Man charged with threatening behaviour after eggs thrown at King CharlesA man has been charged by North Yorkshire Police and will be summoned to court on January 20 after eggs were thrown at King Charles during a walkabout in York
Read more »
Pubs, bars, and clubs could have hours extended to celebrate coronation of King CharlesPubs, bars, and clubs in England and Wales could have their hours extended to celebrate the coronation of King Charles III.
Read more »