FIRST introduced in 2011, the backs of Canadian coins and the plastic-based C$20 (about RM69) banknotes bearing the image of the late Queen Elizabeth II will continue to appear for ‘years to come’ according to a spokesperson for the Bank of Canada.
Canada was formerly a British colony, and the accession of King Charles III meant the country has a new head of state. However, there are no plans for changes or updates to be made to its currency.
The coins and notes will remain in circulation, and the central bank said it is up to Prime Minister Justin Trudeau's government to decide if new notes will feature the image of her successor, King Charles III.
"The current polymer C$20 bank note is intended to circulate for years to come. There is no legislative requirement to change the design within a prescribed period when the Monarch changes," Paul Badertscher, spokesperson for the Bank of Canada, said via email on Thursday.
"As always, the Minister of Finance is responsible for approving the form and material of any new banknote, including the portrait subject," he added.
Canadian Finance Minister Chrystia Freeland's office did not have an immediate comment on the design of future currency. Elsewhere, the Australian Nation Bank announced that updates will be made to their A$5 note that currently bears the image of the Queen.
Following traditions in the UK, the new note will show the image of King Charles III, and new coins will also be minted with his profile facing to the right, the opposite direction of his mother.
However, these notes and coins remain valid to use in Australia, and there is no need to exchange them at the bank. As reported by The Guardian, a spokesperson for the Reserve Bank of Australia said, "all Australian banknotes issued from 1913 retain their legal tender status."
"We will plan for an update to the A$5 banknote design in due course. Creating the design for new banknotes is a complex process.
"It can be several years [between] when a banknote is printed and when it is issued into circulation depending on demand from the public and the need to replace banknotes that have become worn in circulation."
New coins are also expected to be released in 2023 and notes will be going into circulation sometime after.
However, Aussies are instead calling for a different face to be featured on their currency. Internet users are taking to Reddit to suggest that Crocodile Hunter Steve Irwin be placed instead of the new kind.
One user commented, "Steve Irwin deserves our highest form of currency.”
This is not the first time Irwin has been suggested as a candidate for Australian currency, with petitions being created in 2016.
The beloved environmentalist was awarded Australia’s centenary medal for his services to global conservation and tourism in 2001. He died in September 2006. – The Vibes, September 11, 2022
