Canada Launches New Vertical $20 Bill Featuring King Charles and Vimy Memorial

Key points

• The new $20 bill features a portrait of King Charles III, replacing Queen Elizabeth II, and will enter circulation in February 2027.
• It is the second vertical banknote in Canada, following the $10 bill featuring Viola Desmond.
• The note includes new security features, such as a purple security stripe and tactile elements, to combat counterfeiting.
• The design incorporates Indigenous cultural symbols and provincial floral emblems, developed in consultation with an Indigenous advisory council.
• The back of the bill features the Canadian National Vimy Memorial, honoring Canadian sacrifice in World War I.

Background

The decision to replace Queen Elizabeth II with King Charles III on Canadian currency was announced in 2023 during the King's coronation celebration. The Bank of Canada began work on the new note immediately after the coronation in May 2023. The $20 bill is the most circulated denomination in Canada, and the previous $20 note featured Queen Elizabeth II, who first appeared on Canadian currency in 1935 as a young princess.

How outlets are covering it

All sources agree on the core facts: the unveiling of the new $20 bill, its vertical orientation, the portrait of King Charles III, and its entry into circulation in February 2027. The BBC and CBC emphasize the historical significance of the first new monarch appearing on Canadian currency in over 70 years. The Globe and Mail highlights the advanced security features and the personal connection of Bank of Canada Governor Tiff Macklem to the Vimy Memorial. The Financial Post focuses on the Indigenous cultural elements and the unified Canadian identity reflected in the design. There is no significant disagreement among the sources, but each outlet emphasizes different aspects of the new banknote.

Why it matters

The new $20 bill is significant as it represents a major update to Canadian currency, reflecting national history, sovereignty, and cultural diversity. The advanced security features aim to combat counterfeiting, while the inclusion of Indigenous cultural elements and provincial floral emblems promotes a unified Canadian identity. The timing of the release, amid tensions with the US and debates about Canada's ties to the British monarchy, adds a layer of political and cultural significance to the new currency.

What to watch

The new $20 bill will enter circulation in February 2027. The Bank of Canada plans to hold discussions with law enforcement agencies and financial institutions to raise awareness of its security features. The rollout will be gradual, and the bank expects the new note to become the most circulated denomination in Canada.