The United Kingdom puts into circulation banknotes with the face of King Charles III

They entered circulation in United Kingdom banknotes with a portrait of rey Carlosalmost two years after he succeeded the late Queen Elizabeth as head of state.

The picture of Carlos will appear on the new five, ten, twenty and fifty pound notes issued by the Bank of England. The current banknotes featuring Isabel will continue to circulate.

This approach is in line with Royal Household guidance to minimize the environmental and financial impact of this change,” the Bank of England (BoE) said. “This means that the public will begin to see new banknotes rey Carlos III very gradually.”

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The new £5, £10, £20 and £50 banknotes now feature the effigy of the British monarch, while eThe reverse continues to feature iconic figures such as Winston Churchill and Jane Austen.

Elizabeth was the first monarch to appear on British banknotes, unlike the coins of England, which carry images of reyIt is and queens for more than a thousand years.

The portrait of King Charles III is based on a photo taken in 2013. Bank of England Governor Andrew Bailey described this launch as a historic moment:

“It is the first time that we have changed the sovereign on our banknotes.”

He design of the new bills revealed in December 2022shortly after the coins on which it appeared entered circulation Carlos. Apart from the new monarch, the design of the banknotes has not changed.

The use of cash has fallen sharply in the UK in recent years, as consumers prefer debit cards and other electronic payments.

According to the British Retail Consortium, Cash accounted for more than half of retail transactions in 2014but had fallen to 15% in 2021 – partly due to COVID-19 restrictions – before rising to 19 percent in 2022.

Bailey assured that they will continue to provide bills as long as there is demand for cash.

We are committed to supplying banknotes as long as the public demands them. The introduction of these new banknotes is a sign of that commitment,” BoE Governor Andrew Bailey said on Wednesday.

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The British Government approved last year a law that requires banks to guarantee access to cash.

This change marks a new era in British currency, reflecting the monarchical transition and maintaining the relevance of cash in the economy.

With information from Reuters.

ORP