Let’s Go Vertical, Says the Bank of Canada.
This isn’t the first time Canada has introduced vertical currency; nor is it the only country to do so. On March 8, 2018, the Bank of Canada (BoC) unveiled its first vertical-format bill: the now-famous $10 note featuring Canadian civil rights pioneer Viola Desmond. It was revealed on International Women’s Day and released to the public on November 19, 2018. Although the BoC hinted that other bills would follow suit, little progress has occurred until now!.
Who printed vertical currency first? Some enthusiasts believe that China led the way by issuing vertical-format currency, as their script runs top-down, making a vertical layout sensible. However, the historical record is somewhat unclear. By the late 20th and early 21st centuries, various countries began experimenting with vertical designs, though initially only on one side. Early adopters such as Sri Lanka, Brazil, and Hong Kong started printing their currency vertically, but only on the reverse side of the bills.
The double-sided vertical format emerged in the 2000s, with countries including Canada, Bermuda, Cape Verde, the Organization of Eastern Caribbean States, Switzerland, and Venezuela adopting this style. However, Cape Verde has since returned to its traditional horizontal orientation.
Now, over to today’s breaking news!
On September 3, 2026, Bank of Canada Governor Tiff Macklem unveiled a new $20 vertical bill featuring a portrait of King Charles in Ottawa. This marks the first Canadian bank note to feature Charles, replacing the image of the late Queen Elizabeth II.
In a news conference, Macklem described the unveiling as “historic,” noting that it has been over 70 years since a new monarch appeared on a Canadian bank note. The late Queen Elizabeth II first appeared on the Bank’s inaugural $20 note in 1935 as a young princess, Macklem added.
The new bill is significant not only for its design but also because it “features security technologies never before used on a Canadian bank note,” he explained.
The new note is made of polymer, predominantly green, and is vertically oriented. The Canadian National Vimy Memorial will remain on the back, while King Charles is centered on the front.
The thinking behind the vertical orientation.
Most numismatic experts agree with Dowling Duncan, a San Francisco-based design studio, which found in its 2010 study that people tend to handle and process money vertically rather than horizontally, especially when using ATMs and other currency machines. Although younger users who primarily use cards may not handle cash as often and have pushed back against these advantages, there is widespread agreement that it is important to continue design innovation—particularly if it adds security features and offers an aesthetically pleasing appearance.
Macklem highlights this sentiment, stating: “Our new $20 note is both visually stunning and more secure than ever.”
The new $20 note will gradually enter circulation in late February 2027.
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