King Charles III won't feature on Australia's new $5 bill, the nation's central bank announced Thursday, signaling a phasing out of the British monarchy from Australian bank notes, although the new monarch is still expected to feature on coins.
A new Indigenous design will replace the previous portrait of the late Queen Elizabeth, Australia's Reserve Bank said, a move it says honours "the culture and history of the First Australians."Bill not expected to be in circulation for years; King Charles to feature on an upcoming coin insteadAccording to Australia's Reserve Bank, a new Indigenous design will replace the previous portrait of the late Queen Elizabeth on the country's $5 bills.
"The other side of the $5 banknote will continue to feature the Australian parliament," the bank said in a statement.The $5 bill is Australia's only remaining bank note to feature the monarch. "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," he told reporters in Melbourne.Opposition Leader Peter Dutton likened the move to changing the date of Australia Day, a national holiday.
The bank plans to consult with Indigenous groups in designing the $5 note and expects it to be years before it goes public.
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