Crossword Genius

Apparent, circulating roll of banknotes should feature head of royal (7)

Ross

I believe the answer is:

outward

I'm a little stuck... Click here to teach me more about this clue!

'apparent' is the definition.
(I've seen this before)

'circulating roll of banknotes should feature head of royal' is the wordplay.
I cannot quite understand how this works, but
'of' could be 'o' and 'o' is found within the answer.
'royal' could be 'r' (abbreviation) and 'r' is found in the answer.
'roll' could be 'wad' (roll of banknotes) and 'wad' is found in the remaining letters.
The remaining letters 'ut' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for outward that I've seen before include "Young person thus bound" , "Away from centre" , "Apparent" , "Towards the exterior" , "Externally facing" .)

I've seen this clue in The Guardian.
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