Bank of Canada Designing A New $5 Bill

The Bank of Canada will soon issue a newly designed $5 bill, and it is asking Canadians which historic figure should appear on the new money.

Bank of Canada Governor Stephen Poloz said in Vancouver that the central bank will soon be launching public consultations about who should appear on the new $5 bill. Sir Wilfrid Laurier, Canada's first francophone Prime Minister, is currently featured on the $5 note.

The consultations will be similar to those that led to the choice of Viola Desmond for the $10 bill which began circulation in 2018. Desmond, a Nova Scotia civil rights pioneer and businesswoman, was selected by the Finance Minister to be on the $10 bill after an open call for nominations for iconic women who could appear on a bank note.

Poloz said this time that the bank will be asking Canadians to nominate online through its website any historic Canadian they think may be worthy to be on the new bill.