Update from the Bank of Canada

As you may have heard, the Government of Canada announced on May 6th that a portrait of the reigning monarch will continue to feature on Canada’s $20 bank note.  

With the Government’s announcement of King Charles lll as portrait subject, the Bank of Canada will start the design process for the new $20 .

We will be researching new visual content to complement the portrait. In line with our principles of bank note design, we will consult Canadians on the matter. The Bank will also begin consultations with relevant subject matter experts, organizations, stakeholders and government departments on theme, subject matter and images.

Apart from the portrait of King Charles, we know the note will be vertical, green in colour, and be printed on polymer. 

The current Frontiers Series $20 note was issued in 2012, so the timing is right.

From this point onward, our focus is on creating a new, secure and meaningful $20 note for Canadians,  officially pausing efforts on the $5 note.

The new $20 is expected to be issued a few years from now so the current $20 note will continue to circulate for years to come.