The portrait will appear on existing designs of all four banknotes (Picture: PA)
Banknotes carrying a portrait of the King will be issued for the first time on June 5 2024.
The portrait will appear on existing designs of all four banknotes , with no other changes to the existing designs.
Polymer banknotes which feature the portrait of Queen Elizabeth II will remain legal tender, and will co-circulate alongside the King notes, the Bank of England has said.
The new banknotes will only be printed to replace those that are worn, and to meet any overall increase in demand for banknotes.
‘Our approach is in line with guidance from the Royal Household, to minimise the environmental and financial impact of this change.’
A statement from the Bank said the new banknote will be a continuation of the current series and no additional changes to the banknote designs will be made.
The 50p coin bearing King Charles’ image entered circulation just before Christmas 2022.
Just under five million coins were made available, and Post Offices handed them out as change.
Production of the first coins featuring King Charles began back in October 2022.
Commemorative 50p coins were available to buy from April 24, 2023 for between £11 and £1,220.
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