• About
  • Advertise
  • Privacy Policy
  • Contact
Friday, February 3, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Bank Of England Unveils New Bank Notes

December 20, 2022
Stephen KotochiebyStephen Kotochie
in UK
0
Bank of England Unveils New Bank Notes

A specimen of the new note

The Central Bank of England has out doored new bank notes featuring the image the King of England, King Charles III.

The front and see-through channels of the new notes will bear the King’s portrait and will be the only transformational designs made to the existing £5, £10, £20 and £50 notes that have already been in circulation.

The new notes as reported, will begin circulation midway 2024. The fifty pence coins, also bearing the King’s Image have however, entered circulation through the country’s post offices.

RelatedPosts

Mahama To deliver A lecture On ‘Africa’s Strategic Priorities’ in UK Today

StanChart Bank Considers Selling US$3.7 billion Aircraft Leasing Unit

Church of England Sets Up $120m Fund After Slavery Apology

76117292

About half the total number of the new coins reserved to be given in change to customers, was 4.9 million by estimate.

The Bank of England noted that as a way of minimizing the financial and environmental impact of the change, under the instruction and lead of the Royal household, the new notes, bearing the King’s image, will only be printed out to meet the rising demand or replace worn out notes.

Andrew Bailey, current governor of the famous Bank of England, expressed excitement about the new designs as he said, he was “proud” of a “significant moment” with the new design.

It has also been noted that the late Queen Elizabeth remains the first and only monarch with images appearing on the Bank of England bank notes in circulation.

4465612

According to BBC report, the initial notes with portraits of the first and ever Queen of England, Queen Elizabeth, will be accepted as a means of exchange even after the new notes enter circulation.

There are 4.5 billion Bank of England already existing notes currently in circulation worth about £80billion.

Jane Austen bank note

The maintaining of the old notes bearing her image is hence, seemingly in her honor, as well as the country’s way of acknowledging her hard work. It is also to express their gratitude for her immense service and contribution to national development.

Response To The New Developments

The use of contactless payments, which was accelerated by the Covid pandemic has rendered the use of cash less frequent when likened to debit cards.

Rising prices have also made redundant the purchasing power of specific coins and banknotes.

That notwithstanding, consumers and collectors express their keen interest about the new images used on cash, particularly, collectors will be excited to get hold of King Charles’ lowest serial numbers immediately the bank notes enter circulation.

READ ALSO: UK Government Refuses To Offer More Money To Nurses

Tags: Bank NotesBank of EnglandCOVID-19King Charles III.Queen ElizabethUK

Related Posts

Mahama To deliver A lecture On ‘Africa’s Strategic Priorities’ in UK Today
General News

Mahama To deliver A lecture On ‘Africa’s Strategic Priorities’ in UK Today

January 27, 2023
StanChart Bank Considers Selling US$3.7 billion Aircraft Leasing Unit
UK

StanChart Bank Considers Selling US$3.7 billion Aircraft Leasing Unit

January 13, 2023
Church of England Sets Up $120m Fund After Slavery Apology
UK

Church of England Sets Up $120m Fund After Slavery Apology

January 11, 2023
Former Pope Benedict XVI Dead
UK

Former Pope Benedict XVI Dead

December 31, 2022
UK Government Refuses To Offer More Money To Nurses
UK

UK Government Refuses To Offer More Money To Nurses

December 20, 2022
High Court To Rule On Britain’s Plan To Send Asylum-Seekers To Rwanda
UK

High Court To Rule On Britain’s Plan To Send Asylum-Seekers To Rwanda

December 20, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Ghana Used Clothing Dealers Association Reduces Prices Of Second Hand Clothing By 30%

Next Post

Cash Remains The Most Frequently Used Means Of Payment In Stores, ECB Study Shows

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
McDan Group CEO Blames Slow Economic Development on Lack of Indigenous Businesses in Key Sectors
Vaultz Business

McDan Group CEO Blames Slow Economic Development on Lack of Indigenous Businesses in Key Sectors

by Stephen M.CFebruary 3, 2023
NPP flagbearership: Alan Kyerematen Visits Otumfuo Osei Tutu At The Manhyia Palace
General News

Vote For A Candidate Ghanaians Will Prefer – Alan Kyerematen To Delegates

by Samuel Yeboah OtibuFebruary 3, 2023
AfDB, Government of Canada Announces New Special Fund Facility To Cushion SMEs in Agriculture
Agribusiness

AfDB, Government of Canada Announces New Special Fund Facility To Cushion SMEs in Agriculture

by Gifty BansahFebruary 3, 2023
Gold for Oil Policy Cannot Cause Reduction In Prices Of Fuel  – Steve Manteaw
General News

Gold for Oil Policy Cannot Cause Reduction In Prices Of Fuel – Steve Manteaw

by Emmanuel SarpongFebruary 3, 2023
Pope Heads To South Sudan For Final Leg Of African Pilgrimage
Africa

Pope Heads To South Sudan For Final Leg Of African Pilgrimage

by Comfort AmpomaaFebruary 3, 2023
That is not part of what free Senior High School should be about- Deputy Education Minister to CHASS
General News

I Disagree To Calls Suggesting CSSPS Should Be Scrapped- PNC Youth Organizer

by Angeller AshongFebruary 3, 2023
McDan Group CEO Blames Slow Economic Development on Lack of Indigenous Businesses in Key Sectors
NPP flagbearership: Alan Kyerematen Visits Otumfuo Osei Tutu At The Manhyia Palace
AfDB, Government of Canada Announces New Special Fund Facility To Cushion SMEs in Agriculture
Gold for Oil Policy Cannot Cause Reduction In Prices Of Fuel  – Steve Manteaw
Pope Heads To South Sudan For Final Leg Of African Pilgrimage
That is not part of what free Senior High School should be about- Deputy Education Minister to CHASS
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In