Bank of Canada to launch vertical $20 bill with King Charles portrait in 2027

At a press event in Ottawa, Bank of Canada Governor Tiff Macklem presented the upcoming $20 banknote, the first Canadian paper currency to display King Charles. The vertical, green polymer note features the monarch’s portrait on the front and the Canadian National Vimy Memorial on the back. It follows the $10 vertical note that honored civil-rights pioneer Viola Desmond and had won the 2018 Bank Note of the Year award.

Officials described the new design as aesthetically impressive and equipped with enhanced security features. The bank plans a phased introduction beginning in late February 2027, noting that the $20 denomination is its most widely used. The change reflects the monarch’s appearance on Canadian coins since his 2023 coronation celebration.