Australia's new $5 banknote will not feature Britain's King Charles III, but rather a new design that honors 'the culture and history of the First Australians,' its central bank announced.
Australia’s new $5 banknote will not feature Britain’s King Charles III, but rather a new design that honors “the culture and history of the First Australians,” its central bank announced Thursday. The design will replace the portrait of Her Majesty Queen Elizabeth II, the Reserve Bank of Australia said in a statement, adding that the decision was made after consulting with the Australian government.
Officials have also said existing coins with the Queen’s image will remain legal tender “forever.” King Charles III will continue to be featured on coins, which the Royal Australian Mint is expected to start producing “in the second half of this year,” Andrew Leigh, the assistant minister for competition, charities and the treasury, told ABC Radio in an interview. The mint has said it expects to unveil the design of the first King Charles coins early this year.
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