Canada has unveiled a new $20 banknote featuring the portrait of King Charles III, making him the first new monarch to appear on a Canadian banknote in more than seven decades.
The note was presented at a Bank of Canada event on Thursday, with central bank Governor Tiff Macklem describing the unveiling as a “very special day”.
One of the most distinctive features of the new note is its vertical design. The reverse side carries an image of the Vimy Ridge memorial in France, commemorating Canada’s contribution to the First World War.
Canada becomes the first Commonwealth country outside Britain to feature King Charles III on its banknotes since he became monarch following the death of Queen Elizabeth II in 2022.
The King has already appeared on coins in other Commonwealth countries, including Australia and New Zealand. However, Australia has said it will not put him on its banknotes.
Instead, Australian authorities plan to introduce a redesigned $5 note celebrating “the culture and history” of Indigenous Australians, replacing the existing design featuring Queen Elizabeth II.
The Canadian $20 note also contains a floral and leafy tapestry that the Bank of Canada said was “inspired by the King’s lifetime dedication to the environment”.
Liberal MP and Secretary of State for the Canada Revenue Agency Wayne Long said the various symbols featured on the note reflect important aspects of Canadian identity.
The symbols, he said, “serve as a powerful reminder of who we are as a nation and what we value.”
The Bank of Canada added that some elements of the design were selected following consultations with an Indigenous advisory council.
The new $20 note will be only the second vertically oriented banknote issued in Canada. The first was the $10 bill featuring Viola Desmond, a prominent Black civil rights advocate.
That design was later named the world’s best banknote in 2018 by the International Bank Note Society.
Macklem said the new $20 banknote is expected to enter circulation early next year.
The introduction of the King’s portrait comes amid continued debate in Canada over the country’s constitutional ties to the British monarchy. Polling has indicated that many Canadians favour ending the formal relationship, with support for the idea particularly strong in Quebec.
However, the monarchy experienced a modest rise in popularity amid growing tensions between Canada and the United States, including an ongoing trade dispute and President Donald Trump’s repeated comments about Canada becoming the “51st state”.
Prime Minister Mark Carney invited King Charles III to open Canada’s parliament in May. At the time, Carney said the royal visit “clearly underscores the sovereignty of our country”.
King Charles III remains Canada’s head of state and is represented in the country by Governor General Louise Arbour.
