Canada’s central bank unveiled the design of the new vertical $20 banknote on September 3, featuring the portrait of King Charles III for the first time on the front side. This marks the first time in over 70 years that a new monarch has appeared on the $20 denomination in Canada.
The new banknotes are expected to gradually enter circulation starting at the end of February 2027.
On the front side of the new $20 bill, the portrait of King Charles III is surrounded by representative flora from the 13 provinces and territories, with a transparent window showcasing four important plants from Indigenous cultures. The back side of the bill features the Canadian National Vimy Memorial in France, symbolizing Canada’s contributions and sacrifices in wars.
Tiff Macklem, the Governor of the Bank of Canada, stated that the new banknotes incorporate dynamic security features never before used in Canadian currency, including a purple security thread that rotates, distorts, and exhibits dynamic optical effects as the bill moves.
The new $20 banknote is the second in the Bank of Canada’s “vertical series,” following the $10 bill which features the portrait of Viola Desmond, a pioneer in the civil rights movement and a prominent businesswoman. Desmond is the first Canadian woman of African descent to appear on circulated banknotes in the country.