Canada Unveils New $20 Banknote Featuring King Charles III

The Bank of Canada has unveiled a new $20 banknote featuring a portrait of King Charles III, marking the first time a new monarch has appeared on Canadian currency in over 70 years. The vertical, polymer banknote will enter circulation early next year.

At an event on Thursday, central bank governor Tiff Macklem described it as 'a very special day'. The new design features a unique feature of its vertical orientation and includes an image of the Vimy Ridge memorial in France to commemorate Canada's role in World War I.

The Commonwealth nation is the first country outside of Britain to put the King on its banknotes since his ascension to the throne. However, unlike Canada, Australia has chosen not to feature him on their banknotes and instead plans to release a new $5 banknote that pays tribute to 'the culture and history' of Indigenous Australians.