The face of Queen Elizabeth II will continue to appear on its currency, the Bloomberg reported.
Queen was the head of state of Canada, a former British colony.
In 2011, Canada decided to feature Queen Elizabeth's image on the backs of coins and on plastic-based C$20 ($15.28) bank notes.
According to the central bank, those bills will remain in circulation. Now, Prime Minister Justin Trudeau's government will decide if new notes will feature the image of her successor, King Charles III.
The queen died peacefully at age 96 at her estate in Balmoral, Scotland on September 8.
"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, was quoted as saying by the Bloomberg.
"As always, the Minister of Finance is responsible for approving the form and material of any new bank note, including the portrait subject."
Canadian finance minister Chrystia Freeland's office didn't have an immediate comment on the design of future currency, the report added.
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