Pulse Nigeria is the most followed news and entertainment platform, informing and engaging young Nigerians round the clock, providing updates by the hour.

Pulse Nigeria

Banknotes featuring a portrait of King Charles III has been introduced for the first time on Tuesday, June 5, 2024.

Fresh banknotes with King Charles III enter circulation | Pulse Nigeria

Segun Adeyemi

<h2>Banknotes featuring a portrait of King Charles III has been introduced for the first time on Tuesday, June 5, 2024.</h2>

His portrait will be added to the current designs of all four banknotes (£5, £10, £20, and £50), with no other design alterations.

Polymer banknotes with the portrait of the late Queen Elizabeth II will still be legal tender and will circulate alongside <a data-link-role-code="open_new_tab" href="https://www.pulse.ng/news/world/king-of-england-charles-iii-has-an-official-portrait/gwjh1tc">the new King Charles III </a>notes.

The new banknotes will be produced only to replace worn-out notes and to accommodate any overall increase in demand for banknotes.

This strategy aligns with the Royal Household’s guidance to minimise environmental and financial impacts, meaning the public will gradually start to see the new King Charles III notes.

Speaking on issue day, the Bank of England’s Governor Andrew Bailey said:

“We’re very pleased to be issuing the new King Charles banknotes. This is a historic moment, as it’s the first time we’ve changed the sovereign on our notes. We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demands them. Bringing these new notes into circulation is a demonstration of that commitment.”

A view of the £5 and £10 bank notes bearing a portrait of King Charles III.  [Getty Images]

<h3>Note exchanges </h3>

Meanwhile, the Bank of England allows individuals to swap small amounts of current or older banknotes for the newly issued King Charles notes. This exchange service will be available briefly starting from June 5, 2024.

Those interested can make the exchange using either in-person or postal options. Additional information can be found on the King Charles III banknotes webpage.

King Charles III (left) is presented with the first bank notes featuring his portrait from the Bank of England Governor Andrew Bailey and Sarah John, the Bank of England's Chief Cashier, at Buckingham Palace, April 9, 2024 in London, England. [Getty Im...

Fresh banknotes with King Charles III enter circulation

Pulse Picks

Business

News

Entertainment

Lifestyle

Politics

Local

Metro

World

News 

Celebrities

Music

Movies

Fashion

Beauty & Health

Relationships & Weddings

Food & Travel

Domestic

International 

Sports 

Celebrity Picks

Pulse Marketing

Explore categories

Influencer Awards

Company Pages

Breaking News & Top Stories | Pulse Nigeria

Video

Checkout our authors for the latest content across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria 

Authors | Pulse Nigeria

| Pulse Nigeria

Read the latest news across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria

Search for the latest content across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria

Search Results | Pulse Nigeria

Watch the latest videos across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria