The Cayman Islands Monetary Authority (CIMA) has confirmed it is in the preliminary stages of updating the national currency to include a portrait of King Charles III, but noted that design, production and rollout timelines are still being finalised.
According to CIMA’s written response to questions from the Cayman Compass, the redesign requires significant planning with specialist currency printers and multiple quality assurance reviews to meet international standards for security and durability.
CIMA also notes that existing stocks of notes bearing Queen Elizabeth II’s image will be fully utilised before new notes are issued, a fiscally prudent approach that ensures continuity of cash availability. No specific circulation date has yet been announced.
Currently, the six denominations of the “D” series banknotes still carry the late Queen Elizabeth II’s portrait. The design of these notes was approved back in 2010.
Countries using King Charles’ currency
Across the 15 Commonwealth nations where King Charles III is head of state, the transition to updating his image on currency is proceeding at varied pace.
In the United Kingdom, the Bank of England began issuing banknotes featuring King Charles III on 5 June 2024, including the £5, £10, £20 and £50 polymer notes. These circulate alongside existing Elizabeth II notes.
In Canada, new coins with the king’s head are already in circulation. Plans are underway to introduce a redesigned $20 banknote featuring King Charles III, and that is currently expected to be issued sometime in 2027.
New Zealand has confirmed plans to introduce coins and notes bearing the king’s portrait, with incremental issuance over coming years.
In Australia, coins featuring King Charles III have entered circulation, but the Australian Government has opted not to include the monarch on its $5 banknote, choosing instead a design reflecting indigenous heritage.
The Solomon Islands and other smaller nations have either begun issuing new coins or are preparing to do so.
British Overseas Territories and Crown Dependencies also vary: Gibraltar, Jersey, Guernsey, Bermuda and others are at different points of adopting the king’s image on notes and coins. In the Falkland Islands, new banknotes featuring King Charles III entered circulation in August 2025, pairing local wildlife imagery with the king’s portrait.
Some nations with constitutional ties to the United Kingdom are choosing to depart from featuring royal portraiture; for instance, Belize has replaced Queen Elizabeth II’s image with national heroes on its banknotes.
A short history of monarchs on currency
The tradition of placing sovereigns on currency dates back to the ancient world. Roman emperors were among the earliest rulers to issue coins bearing their portraits, a practice designed to assert authority and project their visage across distant provinces.
Over centuries, this imperial imagery evolved into a near universal feature of coinage and later banknotes. In Britain, monarchs have appeared on coins since the medieval period and on banknotes since their emergence in the late 17th and early 18th centuries.
Looking ahead
According to the Cayman Islands Monetary Authority, the eventual rollout of currency bearing the likeness of King Charles III will be accompanied by public education to ensure residents and businesses are ready for the new designs, but for now, Queen Elizabeth II’s image remains a familiar fixture in wallets and coin purses across the Cayman Islands.
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