Ottawa/CMEDIA: Even though many months have passed since King Charles III assumed his new role as monarch, Canada has not yet updated its currency to include images of the new sovereign.
Following the death of the late Queen Elizabeth II on Sept 8, she still continues to be featured on the $20 bill and Canadian coins and a timeline for replacing images of the Queen on coins and bills remains unclear.
Although featuring the reigning monarch on its currency is not mandated by Canada’s legislature, it still is Canada’s long-standing tradition.
The Bank of Canada reportedly said that it has not received any notification from the minster of finance, responsible for approving the design of a new $20 banknote.
Being responsisble for manufacturing and distributing Canada’s coins, Royal Canadian Mint’s senior manager of public affairs, Alex Reeves, said the federal government has jurisdiction over coin design, but directive on a new look involving the King’s effigy has not yet been issued.
In the meantime, the United Kingdom, the Bank of England has already revealed the new design of its banknotes featuring King Charles III on 5, 10, 20 and 50-pound bills which would be reportedly circulated mid-2024, according to the Bank of England’s website.
Although Canada maintains a long-standing tradition of updating effigies to represent the current sovereign, it is still reportedly unclear whether the Canadian government will choose to do something similar.
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