**Bank of Canada Unveils New $20 Banknote Featuring King Charles III**
*Ottawa, Sept. 3, 2026* — The Bank of Canada announced the final design of a new $20 polymer banknote that will enter circulation early next year. The note is the first Canadian banknote to depict King Charles III, replacing the portrait of the late Queen Elizabeth II.
The redesign was mandated by the federal government in 2023 under Prime Minister Justin Trudeau’s administration. According to Bank of Canada officials, the design phase cost approximately C$6 million. The new note will cost an additional C$0.05 to produce because of enhanced security features, bringing the total cost to C$0.35 per bill.
Governor Tiff Macklem highlighted the importance of the security upgrades at an unveiling ceremony in Ottawa, stating that “bank‑note security is critical for Canadian consumers and businesses and for the integrity of our currency system.” The new security strip beneath the King’s portrait shifts as the note moves, creating a three‑dimensional effect. Additional features include dark bands on poppy petals that appear to spin, a maple leaf that changes from light to dark, and a series of small “20” numerals that transform into maple leaves when the note is tilted.
The Bank of Canada plans outreach to retailers, law‑enforcement agencies, and operators of vending machines and ATMs to ensure a smooth transition. Advance images of the new design are being distributed to facilitate necessary equipment upgrades. As part of a pilot awareness campaign, four online content creators were commissioned to produce videos about the new notes, with a budget of C$25,000 allocated for the project.
Both the current and forthcoming $20 notes feature an image of Canada’s National Vimy Memorial in France, honoring Canadians who fought in the First World War. Governor Macklem, whose grandfather served and was wounded at the Battle of Passchendaele, said the memorial “is also a symbol for Canadian sovereignty on the world stage” and referenced the Battle of Vimy Ridge as a pivotal moment in Canada’s development.
In consultation with Indigenous peoples, the new design incorporates a small window displaying culturally significant plants such as cedar, sweetgrass, wild strawberries and Arctic cotton. All 13 provincial and territorial flowers appear on the note, with their names printed in small type. Accessibility features, including raised tactile dots developed with the Canadian National Institute for the Blind, are retained.
The polymer material remains the same as in the previous series, but the orientation of the design changes from horizontal to vertical. The $10 vertical notes, already in circulation, feature human‑rights activist Viola Desmond. The next banknote slated for redesign is the $5 note, which will depict Terry Fox and is expected to be released in 2028.
King Charles III ascended to the throne in September 2022 following the death of Queen Elizabeth II, who reigned for 70 years. Her portrait first appeared on the Canadian $20 note in 1935 when she was eight‑year‑old Princess Elizabeth. The Royal Canadian Mint has been issuing coins bearing King Charles III’s likeness since 2023.
*Report by Sarah Ritchie, The Canadian Press.*
Article and image source: piquenewsmagazine.com
