Canada's first dollar bill to feature a black Canadian woman and vertical design has won the 2018 Bank Note of the Year Award from the International Bank Note Society (IBNS).

In second place was Switzerland's 200-franc note, followed by Norway's 500 kroner, Russia's 100 ruble and Solomon Islands' 40 dollar, according to a statement on IBNS' website.

The winning $10 note, which the Bank of Canada released in November 2018, features civil rights icon Viola Desmond on the front and the Canadian Museum for Human Rights on the back.  

This is the fifth consecutive polymer-containing bank note to receive the award. IBNS said the bank note incorporates "the latest in technological standards" and "bold security features" that make it difficult to counterfeit.

The Bank of Canada is planning to issue a new bank note every few years and has confirmed the next four notes will also use the vertical format, according to IBNS' statement.

This isn't the first time Canadian money has received recognition from IBNS. Canada won the inaugural IBNS award in 2004 for a $20 bill released as part of the Bank of Canada’s Canadian Journey series. The country also notched third place in 2017 and placed second for three consecutive years in 2011, 2012 and 2013.