Australia to remove Queen Elizabeth's image on $5 note
02 Feb 2023 03:45pm
Image for illustrative purposes only - FILE PIX
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The Reserve Bank of Australia stated in a statement that the decision was made after consultation with the government, which supported the change.
"The Reserve Bank has decided to update the $5 banknote 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 other side of the $5 banknote will continue to feature the Australian Parliament," Anadolu Agency reported the bank said in the statement posted on its website.
Australia said last year that King Charles III's image would not automatically replace Queen Elizabeth on its $5 currency notes despite being the ceremonial head of state, it added.
According to the report, the bank also clarified that the current banknote will be issued indefinitely and will be usable even after the new banknote is issued.
"The Bank will consult with First Australians in designing the $5 banknote. The new banknote will take a number of years to be designed and printed," it stated.
The latest decision is another move by Prime Minister Anthony Albanese's government following his announcement last year to hold a referendum on constitutional changes and to recognise Indigenous people in the constitution. - BERNAMA
