Canada Introduces New $20 Bill Featuring King Charles

The Bank of Canada has unveiled a new $20 bill featuring King Charles, marking the first time the monarch's portrait will appear on Canadian banknotes outside of Britain since his ascension to the throne.

The new design includes a floral and leafy tapestry inspired by the King's lifetime dedication to the environment, according to the Bank of Canada. This element was chosen in consultation with an Indigenous advisory council, the central bank added.

Wayne Long, a Liberal MP and secretary of state for the Canada Revenue Agency, said at the unveiling that the symbols on the banknote 'serve as a powerful reminder of who we are as a nation and what we value.'

The new $20 banknote will enter circulation early next year, said Macklem. This is the second vertical banknote issued in Canada, following the $10 bill featuring Black civil rights advocate Viola Desmond.