The Bank of England includes a legal monopoly of banknote issuance in England and Wales. For historical reasons, 6 banks (three in Scotland and 3 in Northern Eire), also situation their unique banknotes that circulate within the respective areas, but the legislation calls for that the issuing banks maintain a sum of Bank of England banknotes (or go
N non-circulating Utilised as backing for banknotes issued by Scottish and Northern Irish banks when exceeding the worth in their 1845 reserves. The quantity for being protected is more than a billion pounds.There exists at present no closing date In regards to exchanging your previous UK banknotes with the Bank of England. You might need to curren
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