Australia has dumped King Charles from its iconic $5 banknote, the only note of its kind in the country to feature a member of the monarch.
A decision by the Reserve Bank of Australia was announced Wednesday, saying it decided instead to update the note “to feature a new design that honors the culture and history of the First Australians. This new design will replace the portrait of Her Majesty Queen Elizabeth II.” The iconic note has featured the face of the monarch on one of its sides for decades, with the portrait of Queen Elizabeth II first appearing in July 1992 after celebrating the 40th anniversary of her accession.
The other side of the $5 banknote will continue to feature the Australian Parliament. The news comes despite the RBA announcing after the Queens death that it intended to feature Charles, with its latest statement saying the decision to change was in consultation with the federal government, “which supports this change.” The RBA said it could take several years until the redesigned note is in circulation and needs to consult with First Australians on an appropriate design.
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