The primary banknotes bearing the picture of King Charles III are set to enter circulation by mid-2024, the Financial institution of England mentioned on Tuesday because it unveiled their designs. “The portrait of The King will seem on present designs of all 4 polymer banknotes (£5, £10, £20 and £50), with no different modifications to the present designs,” the central financial institution mentioned.

“The King’s picture will seem on the entrance of the banknotes, in addition to in cameo within the see-through safety window.”

Charles, 74, turned king after the demise in September of his mom Queen Elizabeth II.

The primary cash bearing his likeness entered circulation earlier this month, the Royal Mint has beforehand introduced.

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The brand new banknotes function an engraved portrait of Charles primarily based on a photograph owned by the royal family and made obtainable in 2013, the Financial institution of England instructed AFP. The design was “finalised within the current months” and accepted by the king, it famous, with the notes to be mass produced from the primary half of 2023.

Present polymer banknotes — which have been step by step changing paper cash within the UK since 2016 — carrying the queen’s portrait will stay authorized tender which might proceed for use.

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The brand new notes will solely be printed to switch worn predecessors and to satisfy any total improve in demand, the central financial institution mentioned, including that will minimise the environmental and monetary influence of the change.

Which means from mid-2024 onwards, notes that includes each monarchs will co-circulate.

“I’m very proud that the Financial institution is releasing the design of our new banknotes which can carry a portrait of King Charles III,” its governor Andrew Bailey mentioned in an announcement.

“This can be a important second, as The King is simply the second monarch to function on our banknotes.”