Bank of Canada unveils new $20 bill with King Charles portrait

The Bank of Canada presented a redesigned $20 bill featuring King Charles on Thursday in Ottawa. This is the first Canadian banknote to showcase the current monarch, replacing the late Queen Elizabeth II. Governor Tiff Macklem described the unveiling as historic during a press conference, noting that over 70 years have elapsed since a new monarch appeared on Canadian currency.

Queen Elizabeth II first appeared on the Bank's original $20 note in 1935 as a princess. The new note incorporates advanced security features, such as a polymer construction, a predominantly green color, a vertical orientation, and a purple security stripe that spins, transforms, and pulses when the bill is moved. This design aims to make the note easy to verify and challenging to counterfeit.

Finance Minister François-Philippe Champagne stated that the new $20 bill reflects key aspects of Canadian identity, paying tribute to Commonwealth roots and international alliances. The banknotes will begin circulating later in February 2027, marking the second vertical series note, following the $10 bill featuring civil rights advocate Viola Desmond.

The $20 bill, which is the Bank of Canada's most circulated currency, will replace its mother's image on Canadian currency, as announced by the government during King Charles' coronation in 2023.