Canada has officially introduced a new $20 bill, as announced by Bank of Canada Governor Tiff Macklem in Ottawa. The new bill, which is the first Canadian paper currency to showcase King Charles, replaces the image of the late Queen Elizabeth II. Described as both visually striking and highly secure, the polymer note is predominantly green and features a vertical orientation with the Canadian National Vimy Memorial on the back and a centered portrait of King Charles on the front.
Scheduled to gradually enter circulation in late February 2027, the new $20 bill marks the Bank of Canada’s most-circulated currency. This bill represents the second vertical series bank note, following the $10 note featuring Viola Desmond, which won the Bank Note of the Year Award in 2018. King Charles was announced to replace his mother on Canadian currency during his coronation celebration in 2023, with the first coins bearing his image circulating in December of the same year.
Reigning monarchs have been featured on Canadian bills since 1935, signifying a longstanding tradition in the country’s currency design.