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
Strathmore Leos ready to chase down heavyweights
Starlets keen on revenge as they face hosts Algeria
Thunder promise to roar louder as they take second shot at BAL
It's race against time as Harambee Starlets begin Wafcon preps
Chepsaita: AK to decide on Team Kenya participation
Kenya to host World Sevens Series in Nairobi
Harambee Starlets take on Algeria in friendly match
History makers Thunder one match away from second BAL appearance
Kenyans gear up for World Development Cup in Kilifi County
Former Harambee Stars coach Migne leads Haiti to World Cup despite never visiting the country
"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.