Canada announces plans to place King Charles on $20 bill, coins
BNN Bloomberg
The image of King Charles will eventually replace the queen on Canada's $20 bill and its coins, the federal government announced during Saturday's coronation events.
A news release from Prime Minister Justin Trudeau says the federal government has directed the Bank of Canada to replace the likeness of the late Queen Elizabeth II with King Charles III during the next design process. It has also tasked the Royal Canadian Mint with designing coins depicting the new monarch that will go into circulation.
The reigning monarch has appeared on paper money and coins since the central bank and the Mint since each began production in 1935 and 1908 respectively.
The announcement comes after speculation on whether Canada would follow the U.K.'s lead and honour the new monarch on its currency. Australia chose to go in another direction, opting for an Indigenous design for its five-dollar bill.
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