Canada unveils new $20 banknote
Canada has unveiled a new $20 banknote featuring King Charles III, marking the first time his portrait appears on a Canadian banknote and the first change of monarch on the country’s notes in more than seven decades.
The new note will gradually enter circulation from late February 2027, Macklem said. Unlike most Canadian banknotes, the $20 note has a vertical design. It is only the second Canadian banknote to use the format, following the $10 note featuring civil rights pioneer and businesswoman Viola Desmond. Floral emblems representing Canada’s 13 provinces and territories are also included. Australia is instead developing a new $5 note highlighting the culture and history of Indigenous Australians. The current $5 note carries the portrait of Queen Elizabeth II. Charles became King following the death of Queen Elizabeth II in 2022. Her portrait has appeared on Canadian banknotes since 1935, making the new $20 the first Canadian note to feature a different monarch in more than 70 years. The $10 note featuring Viola Desmond became the first Canadian vertical banknote when it was introduced. Its design was named the world’s best banknote in 2018 by the International Bank Note Society.
“This new $20 bank note is striking, symbolic and secure,” Macklem said. Long said the symbols used in the design reflect Canada’s national identity and values. Australia and New Zealand have already placed his portrait on some coins, but Australia has said it will not put him on its banknotes.
Charles’ portrait appears on the front of the note, surrounded by a floral and leafy pattern inspired by his long-standing interest in environmental issues. A circular window that can be viewed from both sides features plants of cultural significance to Indigenous Peoples in Canada. The design of the window was developed with input from the Bank of Canada’s Indigenous Advisory Circle. The reverse of the note features the Canadian National Vimy Memorial in France, commemorating Canada’s military contributions and sacrifices during conflicts throughout its history. “The note’s advanced and dynamic security features are combined with images that reflect Canada’s beauty and its history. Canada becomes the first Commonwealth country outside Britain to feature Charles on its banknotes since he became King. Catch the latest World News and Live updates. Download the TOI app.
The Bank of Canada presented the new note at an event on Thursday attended by Governor Tiff Macklem, Governor General Louise Arbour and Wayne Long, secretary of state for the Canada Revenue Agency and Financial Institutions.