The Bank of Canada unveiled a new vertical $20 bill featuring a portrait of King Charles on Thursday, marking the first Canadian bank note to display the monarch since the late Queen Elizabeth II. The polymer note, predominantly green, will replace the existing $20 denomination and enter circulation in late February 2027.
The design shift is historic: more than 70 years have elapsed since a new sovereign appeared on Canadian currency. Queen Elizabeth II first graced the Bank of Canada’s inaugural $20 note in 1935 as a young princess. The government announced King Charles’ inclusion during the 2023 coronation celebrations, aligning with broader currency modernization efforts.
Security features on the new note are unprecedented for Canadian bank notes. A purple security stripe incorporates elements that spin, transform, and pulse when the bill is moved, designed to enhance verification and deter counterfeiting. The front of the note centers King Charles’ portrait, while the back retains the Canadian National Vimy Memorial.
This $20 bill is the second in the Bank of Canada’s vertical series, following the $10 note honoring civil rights pioneer Viola Desmond. The $20 denomination remains the most-circulated currency in Canada, underscoring the note’s economic significance.
Bank of Canada Governor Tiff Macklem called the unveiling historic during a news conference, emphasizing the bill’s advanced security technologies. Finance Minister François-Philippe Champagne noted the note reflects key aspects of Canadian identity, including Commonwealth ties and international partnerships.
