Banknotes Around the World , To Soon Feature King Charles.<br />Banknotes Around the World , To Soon Feature King Charles.<br />CNN reports that following the death of Queen Elizabeth II, the Bank of England plans to update <br />its currency with the image of King Charles III.<br />CNN reports that following the death of Queen Elizabeth II, the Bank of England plans to update <br />its currency with the image of King Charles III.<br />CNN reports that following the death of Queen Elizabeth II, the Bank of England plans to update <br />its currency with the image of King Charles III.<br />Currency featuring Queen Elizabeth II will <br />eventually be withdrawn from circulation. .<br />According to the central bank, over 4.7 million banknotes and 29 billion coins featuring the queen's likeness are in circulation in the U.K.<br />The queen's image has been used on U.K. coins for nearly 70 years and banknotes for over 60 years.<br />Several countries that were formerly governed by Britain also use her portrait on their currencies. .<br />CNN reports that the updated money will likely be introduced gradually and appear as legal tender alongside outdated currency for a period of time.<br />Current banknotes featuring the image of Her Majesty The Queen will continue to be legal tender, The Royal Mint, via statement.<br />Canada and Australia, which feature the queen on their $20 and $5 banknotes, respectively, said there will be no "immediate change" to their currencies. .<br />Canada and Australia, which feature the queen on their $20 and $5 banknotes, respectively, said there will be no "immediate change" to their currencies. .<br />The current polymer $20 bank note is intended to circulate for years to come. There is no legislative requirement to change the design within a prescribed period when the Monarch changes. , Amélie Ferron-Craig, a spokesperson for the Bank of Canada, to CNN Business
