New Delhi: The Bank of England unveiled the design of King Charles III banknotes on December 20th, which are expected to enter circulation by mid-2024. "The portrait of The King will appear on existing designs of all four polymer banknotes (£5, £10, £20, and £50)," the central bank stated.
According to AFP, the new banknotes feature an engraved portrait of Charles based on a photograph owned by the royal household and made available in 2013. The design was "finalised in recent months" and approved by the king, according to the statement, with the notes set to be mass produced in the first half of 2023. The image of the King will appear on the front of the banknotes, as well as in a cameo in the security window.
Charles, 74, ascended to the throne following the death of his mother, Queen Elizabeth II, on September 8.
To minimise the environmental and financial impact of this change, the new bank notes will only be printed to replace worn banknotes and to meet any overall increase in demand for banknotes, according to the bank.
“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. People will be able to use these new notes as they start to enter circulation in 2024." Governor Andrew Bailey said ahead of the release.
