Australia will no longer have the British monarchy on its banknotes. Instead, it will use an indigenous design and not an image of King Charles for its $5 note.
According to the nation’s central bank, the new note will honor “the culture and historyof the First Australians”. It replaces the current portrait of Queen , who died last year.
The $5 note was Australia’s last banknote with an image of the monarch.
The Reserve Bank of Australia stated that King will continue to be featured on coins.
Although Australia’s head state is still led by the British monarch, it is now largely symbolic.
According to the bank, the decision was made after consultation with the government. The government supported the change.
Treasurer Jim Chalmers stated that the change offered an opportunity to achieve a good balance. He said: “The coins will still have the monarch, but the $5 note will tell more about our history, our heritage, and our country. That is a good thing, I think.”
Opponents claim that the move is political motivated.
Bank to consult indigenous groups
Peter Dutton, Opposition leader, compared the move to changing Australia Day’s date.
He said that while he understood that the silent majority doesn’t agree with much of the woke nonsense, he believes we should hear more from them online.
Mr Dutton stated that Australia’s Prime Minister Anthony Albanese was the key to the decision not to include the King on the note and urged him to “own it”.
Since 1992, Queen Elizabeth’s portrait appears on the $5 note. It is drawn from photos commissioned by Reserve Bank in 1984.
The bank will consult with indigenous groups to design the $5 note. It expects that this process will take many years before it goes public.
Australia, like many other former British colonies is currently debating whether it should keep its British constitutional ties.
The bank stated that the Australian parliament will be featured on the opposite side of the $5 banknote.
The $5 current note will be valid until the new design is released.
Australian coins will soon feature King Charles III’s face.
Many Australian currencies already feature artwork and figures from indigenous peoples.