Canada currency to feature Queen Elizabeth II 'for years to come'; up to Trudeau govt to decide, says central bank

Canada, a former British colony, has a new head of state in King Charles III but that will not change the face that appears on its currency -- that of Queen Elizabeth II who passed away at Balmoral Castle in Scotland on Thursday (8).

According to a report by Bloomberg, the late queen's image features on the back of coins and plastic-based 20 Canadian dollar bank notes that were introduced in 2011. Those will remain in circulation and the central bank of the country said it is up to the government of prime minister Justin Trudeau to decide if new notes will feature the image of the new monarch who took over on Saturday (10).

Queen Elizabeth II (L) shakes hands with Canadian Prime Minister Justin Trudeau as they meet for an audience at the Windsor Castle, Berkshire, on March 7, 2022. (Photo by STEVE PARSONS/POOL/AFP via Getty Images)

"The current polymer $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, spokesman for the Bank of Canada, told the publication by email Thursday.

"As always, the minister of finance is responsible for approving the form and material of any new bank note, including the portrait subject," he added.

The queen died peacefully at her castle in Scotland at the age of 96.

Canadian deputy prime minister and finance minister Chrystia Freeland's office didn't make an immediate comment on the design of future currency.