UK coins change face after Queen Elizabeth II's death.
The Bank of England in fact, by the end of the year, will present the images of the updated banknotes with the portrait of King Charles III.
The notes should go into circulation by mid-2024. The portrait of Carlo, reports a note from the institute, will appear on all four polymer banknotes (5, 10, 20 and 50 pounds).
This will be a continuation of the current series and no further changes will be made to the banknote designs.
"In line with the Royal Household guidelines to minimize the environmental and financial impact of the change of monarch," the statement continues, "the existing stocks of banknotes depicting Her Majesty Queen Elizabeth II will continue to circulate. The new banknotes will be printed only to replace worn banknotes and to meet any overall increase in banknote demand. Current banknotes featuring the portrait of Her Majesty Queen Elizabeth II will continue to be legal tender and will only be removed from circulation once they are worn or damaged. They will co-circulate with those with His Majesty King Charles III. "