The unveiling ceremony for the new $20 banknote was attended by the Governor General of Canada Her Excellency The Right Honourable Louise Arbour, and the Governor of the Bank of Canada, Tiff Macklem.
The new banknotes will begin entering circulation in February 2027.
The Bank of Canada has officially unveiled the country’s new vertical $20 banknote.
Report by: Mehboob Ali Shaikh
A new chapter in Canada’s currency history has been written. The Bank of Canada has unveiled a new vertical $20 banknote featuring, for the first time, a portrait of King Charles III. The new note will gradually enter circulation toward the end of February 2027 and will feature advanced anti-counterfeiting security measures, the official flowers of Canada’s 13 provinces and territories, plants of cultural significance to Indigenous Peoples, and the Vimy Memorial.
A historic chapter has been added to Canada’s financial and constitutional identity. The new $20 banknote will prominently feature a portrait of King Charles III. It is the first Canadian banknote to carry the image of King Charles III, and the first time in more than 70 years that a new monarch will appear on Canada’s $20 banknote. The current $20 note features Queen Elizabeth II.
The banknotes in our wallets may appear small, but they are powerful symbols of who we are as Canadians and of our economic sovereignty.
For this reason, the Governor General of Canada, Her Excellency The Right Honourable Louise Arbour, and the Governor of the Bank of Canada, Tiff Macklem, participated in the unveiling of Canada’s new vertical $20 banknote, introducing the note featuring the portrait of His Majesty King Charles III.
This is the first Canadian banknote to feature the portrait of His Majesty King Charles III, and it marks the first time in more than 70 years that the image of a new monarch has appeared on Canada’s $20 banknote.
The unveiling comes at a time when Canada’s economic sovereignty is facing new challenges. The new $20 banknote serves as a reminder to Canadians of the strength and resilience of Canadian institutions, the Canadian economy, and its people.
According to the Bank of Canada, while the new banknote has now been unveiled, it will begin entering circulation gradually toward the end of February 2027. This means the transition will not happen overnight. Instead, the new notes will be introduced in phases throughout Canada’s banking and cash-payment systems.
The new $20 note has been designed in a vertical format rather than the traditional horizontal style. It will be the second note in Canada’s Vertical Series. The first was the $10 banknote featuring civil rights icon Viola Desmond. The new $20 note will retain its predominantly green colour, allowing Canadians to continue recognizing it easily as the familiar $20 denomination.
A detailed decorative design of flowers and leaves surrounds King Charles III’s portrait, reflecting his long-standing commitment to the environment and sustainability. The design also includes representations of the official flowers of all 13 Canadian provinces and territories.
The transparent circular section of the note features four plants of cultural significance to Canada’s Indigenous Peoples: wild strawberries, western red cedar, braided sweetgrass, and Arctic cotton. The Bank of Canada’s Indigenous Advisory Circle contributed to this aspect of the design, with these elements representing concepts such as food, gratitude, and healing.
The reverse side of the banknote will continue to feature the Canadian National Vimy Memorial in France. The monument commemorates the service and sacrifice of Canadian forces during the First World War. The 1917 Battle of Vimy Ridge is regarded as one of the most significant military events in Canadian history. According to Bank of Canada Governor Tiff Macklem, the site is among the symbols representing the emergence of Canada’s distinct national identity.
The Vimy Memorial bears the names of 11,285 Canadian soldiers who died in France during the First World War and have no known grave. During the unveiling, Governor Tiff Macklem also referred to the historical significance of the memorial and the battle, while mentioning the service of his grandfather and namesake, Lieutenant Tiff Macklem, at Vimy Ridge.
The most significant technological change to the new $20 banknote is not limited to the portrait. It also includes new dynamic security features. According to the Bank of Canada, some of these security features are being used on Canadian banknotes for the first time.
The purple security stripe contains elements that appear to spin, transform, and pulse when the note is moved or viewed from different angles. These features are intended to make it easier for the public to identify genuine banknotes while making counterfeiting more difficult.
Accessibility has also been given significant consideration in the design. The new note includes tactile features, raised ink, large high-contrast numbers, and other distinctive identification elements to help people who are blind or have low vision recognize the denomination with greater confidence. The official size of the banknote will remain 152.4 × 69.85 millimetres.
An important point for the public is that the introduction of the new banknote does not mean that the current $20 note featuring Queen Elizabeth II will suddenly become unusable. The Bank of Canada is implementing the transition gradually, and existing $20 notes will remain in circulation. Canadians therefore do not need to panic or immediately exchange their current banknotes.
Before February 2027, the Bank of Canada will work with financial institutions, retailers, law-enforcement agencies, and cash-handling equipment manufacturers to ensure proper recognition of the new note and compatibility with relevant machines. Businesses using ATMs, cash counters, vending systems, and other note-processing machines may need to update their equipment or software where necessary.
The new $20 banknote represents both the continuity of Canada’s constitutional monarchy and the country’s evolving identity. It brings together Indigenous culture, environmental values, provincial and territorial identity, and the national history represented by Vimy in a single design.
In this way, a banknote used for everyday purchases is set to become a symbol of Canada’s history, contemporary identity, and modern security technology.
