Canada Issues New Polymer £20 Banknote Featuring King Charles III Portrait
The Bank of Canada confirmed the design of its new vertical £20 polymer banknote on Thursday, which will feature a portrait of King Charles III. This marks the first occasion a new monarch has been depicted on Canadian currency in over 70 years, with Queen Elizabeth II having been on the previous iteration.
The central bank stated that the new polymer note is scheduled to enter circulation in early 2027. It represents the first entirely new design for a Canadian banknote since the 2013 series, which introduced a vertical orientation for higher denominations.
The reverse side of the new £20 note will retain an image of the National Vimy Memorial, a monument in France commemorating Canadian soldiers killed during the First World War. This design choice maintains continuity with previous Canadian currency that has often featured significant national symbols or historical figures.
The decision to feature King Charles III aligns with Canada's status as a constitutional monarchy, where the reigning British monarch serves as the head of state. This update to the currency reflects the transition of the Crown following the death of Queen Elizabeth II in 2022.
