For designing the $5 note, the bank plans to consult with Indigenous groups, and they expect that this new note will take several years to reach the public.
Australia wants to detach the British Monarchy from its Bank notes. On Thursday, The central bank of the nation said that an Indigenous Design will be featuring in a new $5 bill rather than the image of king Charles III. But they expect the image of the King to be maintained on coins.
Australia’s $5 bill
The monarch’s image is now only featured in the remaining of Australia’s $5 banknotes. The bank consults and follows up with the Government. They also supported the change and said this was politically motivated.
The British Monarch remains the Head of State of Australia. Similar to the British colonies, Australia is debating about the extensions and retaining its constitutional ties to Britain.
- Australia wants to detach the British Monarchy from its Bank notes.
- An Indigenous Design will be featured in a new $5 bill.
- The image of the King to be maintained on coins
- This change is to honor “the History and Culture of First Australians”.
A new $5 bill design will feature to replace Queen Elizabeth II’s Portrait and this change is to honor “the History and Culture of First Australians”.
The other side is “the Feature of the Australian Parliament”, said the Reserve Bank of Australia. Treasurer Jim Chalmers said that this change is a good opportunity to strike a balance.
Opposition Leader Peter Dutton also likened and wants the change to be on Australia Day. For Designing the $5 bill, the Bank plans to consult with an Indigenous group.
The bank said the current note will be issued as long as the introduction of the new design and expects that this process will take several years to reach the public.
Later, the Australian coins are seen with the face of King Charles III. The value of one Australian dollar equals about 71 cents in US currency.
