Hello everyone and welcome. My name is Maureen Carroll and I'm the Managing Director of the Currency Department at the Bank of Canada. Thank you all for joining us here today. It is wonderful to see so many familiar faces. Many of you have contributed to making this day possible in one way or another. And it is my great pleasure to be the MC for this event.
I would like to begin by acknowledging that the land on which we are gathered is the traditional territory, unceded, of the Algonquin Anishinaabe people. We pay respect to their elders past and present and to their ancestors for their immeasurable contributions to this country. To offer a blessing and help open our gathering today, I would like to invite Elder Verna McGregor of the Kitigan Zibi Anishinabeg First Nation to the stage.
Hello everybody. I'm very honored to be here today to see the launch of the new $20 bill. I had the pleasure of sitting with the Indigenous council, too, as well and looking at the bill. One of the symbols on there is the strawberry, and one of the meanings of the strawberry for us is we call it ode'imin. That's your learning word for today. Ode'imin means "heart berry," but it also represents forgiveness, forgiveness of the self, but also, too, as well, we're in the era of reconciliation. That also represents self-reflection as we move forward onto the new, such as this new currency. So I'm just going to say a little, really, it's an acknowledgement that I say in the language.
Migwetch is thank you in Algonquin, say merci, and I say it four times to honor the four directions, to honor our honored guests here, Honorable Louise Arbour, Her Excellency—she's excellent—and to just acknowledge all the gifts that were gifted here, including being a peaceful country and the coexistence of everybody. And just a little history, too, with the Algonquin, too. This place is so special, and I was speaking about this this morning. We're known for the birchbark canoe, and one of the teachings of that is to honor our journey here. Part of that journey, too, is here today as currency plays such an important role in our lives. It's a unit of measure, a unit of storage, and a medium of exchange.
And again, our ancestors kind of knew that because even in the past how they'd say dollar, like pezhigwâbik, nîzhwâbik, $1, $2, it was tied to—shôniyâ means metal, and they had this understanding that it was tied also to metal. And again, with this colonization that restricted the movement, but then here we are today and I hope we have a bright future journey. It was very honorable to be recognized also with the symbol on the $20 bills and the currency. So I say merci, thank you.
Thank you, Elder McGregor, for blessing us with your words and prayers. I would now like to invite the Governor of the Bank of Canada, Tiff Macklem, to say a few words and reveal the design of the new $20 banknote. Please join me in welcoming the Governor to the stage.
Thank you, Maureen. And thank you all for joining us today. This is a very special day for us at the Bank of Canada. Your Excellency Louise Arbour, Governor General, I also want to welcome the Honorable Wayne Long, Secretary of State responsible for the Canada Revenue Agency and Financial Institutions.
As you all know, the Bank of Canada is responsible for designing and issuing Canadian banknotes. The new $20 note we are unveiling today is the second note in our vertical series. The first, our $10 banknote, features civil rights pioneer Viola Desmond, the first Canadian-born woman to appear on a regularly circulating Canadian banknote. Today's unveiling is also historic for two reasons. First, it has been more than 70 years since a new monarch appeared on a Canadian banknote. This is the first banknote to feature the portrait of His Majesty King Charles III following his accession to the throne after the death of Her Majesty Queen Elizabeth II.
Our new $20 note is both visually stunning and more secure than ever. And I'm going to say a few more words about the design and security, but first, let's see it. Your Excellency, Secretary Long, please join me for the unveiling.
The moment you've been waiting for. So, you move over there. On the count of three, we're going to pull this thing. One, two, three. There it is. Okay, here comes the money. Okay, you come up here. We're going to get our picture taken somewhere. I'll put you here. Okay. Well, that was fun.
Banknote security is critical for Canadian consumers and businesses and for the integrity of our currency system. With this new note, the Bank of Canada continues its relentless fight against counterfeiting because counterfeiters, unfortunately, are always on the job. We tackle the counterfeiting problem on a number of fronts. We issue new banknotes like this with innovative and enhanced security features so that Canadians can remain confident in our money. We manage banknote circulation so that only the best quality banknotes are being used. And we work with police and prosecutors to monitor and respond to threats of counterfeit banknotes and minimize their impact on Canadians. Although this rendition of our new $20 note conveys its beautiful artistry and design, it can't fully represent the incredible technologies at work. This short video will show you what I mean.
The Bank of Canada is proud to introduce the vertical $20 banknote. It has advanced and dynamic security features never seen before in Canada. Like our other banknotes, it's easy to authenticate, ensuring that Canadians can use it with confidence. To check your note, you just need to feel, look, tilt, and flip.
Feel the smooth, unique texture of the polymer. On the front of the note, feel the raised ink on the portrait, the large number, and the word Canada. Look at the purple security stripe. Tilt the note to make the images move. The bubble looks 3D and magnifies the 20s inside. A leaf pulses inside the maple leaf. The poppy has bands that spin. The background changes from 20s to maple leaves. Now, flip to the back of the note. Look at the gold maple leaves. Tilt the note to see the inner leaves pulse. Remember to feel, look, tilt, and flip. It only takes a few seconds to check your banknote. Canada's vertical $20 banknote in circulation starting early 2027. To learn more, visit bankofcanada.ca/vertical20.
