Cash is king: Charles III banknotes enter circulation
Europe
By
AFP
| Jun 06, 2024
British banknotes bearing the image of King Charles III entered circulation for the first time on Wednesday, nearly two years after he succeeded his mother Queen Elizabeth II.
The four banknotes with the king's portrait on the front carry values of PS5 ($6.4), PS10, PS20 and PS50 and will be used alongside those bearing the image of Elizabeth, who died in September 2022.
Coins bearing Charles's head entered circulation in December 2022.
The updates come as Britons increasingly use physical and online bank cards, rather than cash, to make payments.
But Bank of England governor Andrew Bailey called it "a historic moment", with the late queen having served a record 70 years on the throne.
READ MORE
Access to the right inhaler can change a life
Kabras chase history as KCB seek revenge in Kenya Cup final
City Thunder targets maximum points in Eldoret and Kisumu trips
Suluhu's threat of violence to the youth takes East Africa backward
Kenya to spend nearly half of budget on debt servicing
KDC roots for creative economy, innovation and youth-led enterprise growth
KUCCPS announces final call for university placement
Infantino defends World Cup ticket prices
Where Kenyan stars will be chasing glory as Diamond League meetings kicks off
Ruto allocates more funds to sectors likely to win him votes in 2027
"We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them," he added.
Based on a photograph owned by the royal household and made available in 2013, Charles in late 2022 approved the final designs of the notes featuring his engraved portrait.
The new cash - made from polymer that has already been used to replace paper money in the UK since 2016 -- will gradually replace the older notes.