Canada has unveiled a new $20 banknote featuring King Charles III in Ottawa on Thursday, September 3, 2026, marking the country’s first new monarch on a banknote in more than 70 years.
Bank of Canada Governor Tiff Macklem presented the new note at an official ceremony, describing the unveiling as “a very special day” for the country.
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The release follows the death of Queen Elizabeth II in 2022 and represents the first change of monarch depicted on a Canadian banknote since the Queen’s reign.
The new Canada $20 banknote also introduces a distinctive vertical format, making it only the second vertically oriented note in Canadian history.
The first was Canada’s $10 banknote featuring Viola Desmond, the Black civil rights advocate whose note was recognised as the world’s best banknote by the International Bank Note Society in 2018.
The reverse of the new $20 note features the Canadian National Vimy Memorial in France, a powerful symbol of Canada’s contribution during the First World War.
A floral and leafy pattern is also incorporated into the design, with the Bank of Canada saying the imagery was inspired by King Charles’s longstanding interest in environmental issues.
Some elements of the design were selected following consultations with an Indigenous advisory council, adding further Canadian cultural references to the note.
Wayne Long, a Liberal member of Parliament and secretary of state for the Canada Revenue Agency, said the symbols represented on the note carried a broader national significance.
The new design arrives as Canada continues to consider its relationship with the monarchy, with King Charles serving as Canada’s head of state and being represented domestically by the governor general.
Canada’s decision also has wider significance across the Commonwealth. The country has become the first Commonwealth nation outside the United Kingdom to feature Charles on its banknotes since his accession to the throne.
Australia and New Zealand have placed the King on coins, but Australia has decided not to feature him on its banknotes. Australia is instead developing a new $5 note celebrating Indigenous Australian culture and history.
The new Canadian note is expected to enter circulation early in 2027, according to Macklem.
The timing comes against a notable backdrop in Canadian politics and public debate. Charles’s standing in Canada received some attention during heightened tensions with the United States, including the continuing trade dispute and US President Donald Trump’s repeated comments about Canada potentially becoming the “51st state”.
Canadian Prime Minister Mark Carney invited Charles to open Canada’s parliament in May, describing the royal visit as an affirmation of Canada’s sovereignty.
Yet the monarchy remains a subject of debate among Canadians. Polling has indicated that a sizeable share of the population favours ending Canada’s constitutional ties to the British monarchy, with support particularly notable in Quebec.
The new $20 banknote therefore carries significance beyond its monetary value.
It combines the image of a new monarch with references to Canadian history, Indigenous consultation and environmental themes, while arriving at a time when the country’s relationship with the Crown continues to prompt discussion.
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For Canadians, the note will soon become an everyday part of the country’s currency system, offering a new visual representation of the country’s constitutional relationship with King Charles III.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
