New notes will be issued in England. The new notes feature an image of King Charles III. The Bank of England has released a new version of the notes. The only change to the existing designs of the £5, £10, £20 and £50 notes will be the obverse. The current notes bear the portrait of late Elizabeth Ranji. The new notes will be in circulation by mid-2024.
The portrait of the King will be displayed on the front of the new notes and on the security window. Coins bearing the obverse of King Charles were issued earlier. The Bank of England has clarified that even if the new notes come out, the existing notes will not be withdrawn. Queen Elizabeth was the first and only royal to appear on the Bank of England’s banknotes, which began in 1960.
However, notes issued by Scottish and Northern Irish banks do not feature King Charles. There are currently 4.5 billion individual Bank of England notes in circulation in the UK market, worth £80 billion.
Story Highlights: New British banknotes featuring portrait of King Charles III revealed
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