Queen Elizabeth Will No Longer Appear On Australian Five Dollar Bill, King Charles Won't Replace Her
Significant alterations are on the horizon for Australian currency.
Australia's Reserve Bank announced on Monday that the image of Queen Elizabeth II will be removed from the nation's five dollar bill. Notably, this bill was the sole piece of Australian paper currency still featuring the likeness of the late monarch.
Last year, the United Kingdom underwent a comparable transformation as it was announced that King Charles, the queen's heir, would be featured on British currency and banknotes.
However, in Australia's instance, King Charles, 75, will not succeed his mother on the five-dollar bill. Instead, a fresh and distinctive design paying homage to Indigenous communities will adorn the banknote in the near future. Interestingly, certain new Australian coins do bear the likeness of the king.
According to an official statement obtained by ABC News, the Reserve Bank stated that the reverse side of the five-dollar banknote will persist in featuring the Australian Parliament.
The decision for the sudden change stemmed from discussions within the center-left Labor Party government, despite the British monarchy retaining its position as the head of state. Additionally, the national bank disclosed that the alteration aims to pay tribute to and commemorate the "culture and history" of the First Australians.
After the announcement, Treasurer Jim Chalmers voiced his approval for the modification, clarifying how "the monarch will still be on the coins, but the $5 note will say more about our history and our heritage and our country, and I see that as a good thing."
To craft the new design, the national bank intends to engage in consultations with Indigenous groups to seek their input on the process. However, until this initiative is completed, the current design of the five-dollar bill will remain in circulation across the country.
