King Charles III presented with first UK banknotes with his portraitA

King Charles III presented with first UK banknotes with his portraitA

Britain's King Charles III was on Tuesday presented with the first set of banknotes bearing his portrait by Bank of England representatives at Buckingham Palace in London.

The 75-year-old monarch, who has been undergoing cancer treatment, was pictured with Bank of England Governor Andrew Bailey and Chief Cashier and Executive Director of Banking Sarah John.

It is seen as a historic moment as it is the first time the Bank of England has changed the image of the British monarch on a banknote, as King Charles' late mother, Queen Elizabeth II, was the first monarch to appear on a Bank of England note in 1960.

"The King was presented with GBP 5, 10, 20 and 50 notes," the palace said.

"These are the first notes which feature the image of His Majesty. The notes will go into circulation on 5th June 2024," it noted.

The Bank of England had earlier announced that the polymer banknotes that feature the portrait of Queen Elizabeth II will remain legal tender and co-circulate alongside the new King Charles III notes. The new banknotes will only be printed to replace those that are worn out 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. This means the public will begin to see the new King Charles III notes very gradually," Bank of England said.

Under the new portrait design launched last year, the King's image will appear on the front of the banknotes as well as in cameo, in the see-through security window and the reverse side of the notes will remain unchanged. The King's palace meeting on Tuesday, which was photographed and filmed for release, is seen as a positive sign in terms of his recovery since his cancer diagnosis was revealed in February.

He took a backseat from most of his public-facing duties and was last seen out and about for an Easter service at the end of last month.

There are reports that the palace plans to begin scheduling more public events in the coming weeks as his treatment is said to be progressing well.

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