The Bank of England will print notes to be used alongside current notes.
Banknotes depicting King Charles will soon enter circulation when the first notes are introduced on June 5.
The King’s portrait will appear on all UK banknotes: £5, £10, £20 and £50. Charles’s image will also be on the security windows of the banknotes.
Otherwise, there are no plans to change the current appearance of the banknotes. The current notes featuring the late Queen Elizabeth II will remain legal tender alongside the new notes.
Bank of England according to which banknotes are printed only to replace worn ones, and to respond to the general increase in demand for banknotes. In this way, the central bank tries to minimize the environmental harm caused by the change. The central bank also takes note of the financial effects of printing banknotes.
Polymer banknotes were introduced in Great Britain in 2016. Before that, paper money in Great Britain was used for 320 years. According to the central bank, there are now more than 4.6 billion pounds of polymer banknotes with the Queen’s face in circulation. The notes are worth a total of £81 billion.
The Bank of England reminds companies to make sure that the machines in the stores are ready to accept the new banknotes as well.
News about the topic The Guardian.
The new banknotes will be introduced on June 5, 2024. Cover Images