These new polymer banknotes, which have gradually replaced paper money in the United Kingdom since 2016, will circulate alongside those containing the portrait of Queen Elizabeth II.
The banknotes will be printed gradually to “replace those that are worn out,” the statement states, in order to “minimize the environmental and financial impact” of the change of monarch.
These new banknotes will join the coins with the image of Charles III, which entered circulation in December 2022, a few months after the death of his mother.
Starting Wednesday, the public will also be able to exchange their old banknotes for those bearing the image of Charles III, through the Bank of England, up to a limit of 300 pounds (about $382) per person.
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