$20 Bill Featuring King Charles III Unveiled by Bank of Canada

The Bank of Canada has unveiled its new $20 bill featuring a portrait of King Charles III. This is the fourth monarch to appear on a Canadian banknote and replaces that of the late Queen Elizabeth II.

The design process, which cost $6 million, includes a first-of-its-kind security strip that shifts as the note moves. This additional feature increases the cost of each bill to $0.35, up from $0.30 previously.

Bank of Canada governor Tiff Macklem emphasized the importance of banknote security in preventing counterfeiting and maintaining the integrity of the currency system.