By Abiola Olawale
The United Kingdom’s banknotes with the image of King Charles III on the front have been released into circulation on Wednesday, June 5.
The Bank says that the four new GBP5, GBP10, GBP20, and GBP50 notes will slowly replace the current stock of notes that carry pictures of the late Queen Elizabeth II.
The four banknotes with the king’s portrait on the front carry values of £5 ($6.4), £10, £20 and £50 and will also remain legal tender alongside those bearing the image of Queen Elizabeth, who passed away in September 2022.
The Governor of the Bank of England, Andrew Bailey, said members of the public would be able to exchange current notes with Queen Elizabeth II on them with the new notes that carry King Charles III’s picture via the Bank.
He said: “We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them. Bringing these new notes into circulation is a demonstration of that commitment.”
