In a historic move set to mark a significant milestone in the reign of King Charles III, the Bank of England has unveiled plans to introduce new banknotes featuring the portrait of the monarch.
Amidst the backdrop of his courageous battle with cancer, the 75-year-old monarch is poised to achieve yet another remarkable feat as his likeness adorns the nation's currency, with the official circulation set to commence on June 5.
Despite the eagerly anticipated transition, the Bank of England assures the public that old notes bearing the image of the late Queen Elizabeth II will remain legal tender, ensuring a seamless co-circulation alongside the new currency.
Notably, the new banknotes, retaining the existing design across all denominations (£5, £10, £20, and £50), will primarily be introduced to replace worn-out currency and cater to any surge in demand, as per the Bank's official statement.
Emphasizing a gradual roll-out, the Bank of England aligns its approach with guidance from the Royal Household, aiming to mitigate both environmental and financial impacts associated with the currency change.
