Why in News?
The Bank of Canada unveiled a new $20 banknote featuring King Charles III, the first change of monarch on Canadian paper currency in more than 70 years.
Key Details
- The new note replaces the portrait of Queen Elizabeth II with King Charles III.
- It uses a vertical design, only the second Canadian banknote to do so.
- The reverse features the Canadian National Vimy Memorial in France.
- The banknote also includes floral symbols of Canada’s provinces and territories and a window featuring plants selected with Indigenous input.
- The new notes are scheduled to enter circulation in February 2027.
Exam Connect
- Bank of Canada → Canada’s central bank → issues Canadian banknotes
- $20 note → first Canadian banknote featuring King Charles III