According to the central bank, the new design honors “the culture and history of the First Australians.”
The face of the British monarch that was previously on Australia’s new five-dollar ($3.50) note has been replaced with a design honoring the nation’s Indigenous people.
The design showcasing “the culture and history of the First Australians” will be created in conjunction with the Indigenous people, according to the Reserve Bank of Australia, the country’s central bank, and was expected to take a few years. It also stated that the Australian Parliament would still be visible on the reverse of the currency.
The bank stated on its website on Thursday that “this new design will replace the portrait of Her Majesty Queen Elizabeth II.”
King Charles III will no longer be shown on any of Australia’s paper currency as a result of the decision to omit him from the note.
The central bank stated that the revision came about as a result of discussions with Prime Minister Anthony Albanese’s administration, which favored the adjustment.
The adjustment, according to Treasurer Jim Chalmers, is a chance to find a good balance. “The queen will still be on the coins,” he told reporters in Melbourne. “But the five-dollar note will tell more about our history, our heritage, and our country, and I regard that as a good thing.”
The British queen serves as the head of state of Australia, a primarily ceremonial position, but Queen Elizabeth’s passing in September of last year reignited discussions about whether Australia should become a republic.
Several notes have references to Aboriginal and Torres Strait Islander culture.
A Ngarrindjeri man from South Australia named David Unaipon is depicted on the current $50 ($35) bill as an author, activist, inventor, musician, and preacher. A historic referendum on giving the Indigenous community an Aboriginal “voice” in parliament is being planned by Albanese’s administration.
A “yes” vote would constitutionally codify a council of Aboriginal and Torres Strait Islander leaders to advise the government.
This year is when the referendum is anticipated to occur.
