Bank of Canada unveils new vertical $20 bill featuring King Charles III

The Bank of Canada has unveiled a new vertical $20 banknote featuring a portrait of King Charles III. This marks the first time in over 70 years that a new monarch has appeared on the $20 denomination, replacing the image of the late Queen Elizabeth II.

The new design is part of the bank’s Vertical series, following the $10 Viola Desmond note. The polymer bill features a portrait of the King surrounded by a floral tapestry inspired by his environmental advocacy. It also includes the floral emblems of Canada’s 13 provinces and territories, as well as plants culturally significant to Indigenous Peoples. The reverse side depicts the Vimy Ridge Memorial in France to honor Canada’s military history.

Governor Tiff Macklem described the note as “striking, symbolic and secure,” highlighting advanced security features such as a dynamic purple security stripe that shifts and changes appearance when the note is moved. The design process cost approximately $6 million, with each new note costing an additional $0.05 to produce due to enhanced security measures. The new banknotes are expected to enter circulation gradually starting in late February 2027.