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VANCOUVER — Bank of Canada governor Stephen Poloz says the central bank is working on plans for a new $5 bill.

Speaking in Vancouver, Poloz says the bank will soon be launching public consultations about who should appear on the new bill.

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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 says this time the bank will be asking Canadians to nominate any historic Canadian they think may be worthy to be on the new bill.