Mexico City.- Australia’s central bank said on Thursday that its new Australian $5 note will feature an indigenous design instead of the image of King Charles III. The five dollar was the only remaining Australian note with an image of the previous Monarch.
The institution stated that the decision was made after consulting the Government, which supported the change. Opponents of the measure claim the move is politically motivated. It is expected that the image of the King will continue to appear on the coins.
The British monarch remains Australia’s head of state, although today that role is largely symbolic. Like many former British colonies, Australia is debating the extent to which it should retain constitutional ties to the UK.
The Reserve Bank of Australia said the new $5 note will carry a design that will replace the portrait of Queen Elizabeth II, who died last year. The institution stated that the measure would pay tribute to “the culture and history of early Australians”.
“The other side of the five dollar bill will bear an image of the Australian Parliament,” the bank said in a statement.
Treasurer Jim Chalmers said the change was an opportunity to find a good balance.
“The Monarch will still appear on the coins, but the A$5 note will say more about our history and our heritage and our country, and I think that’s a good thing,” he told reporters in Melbourne.
Opposition leader Peter Dutton compared the move to changing the date of Australia Day.
“I know the silent majority don’t agree with a lot of things that are happening, but we need to hear more from these people on the internet,” he told 2GB Radio.
Dutton claimed that Prime Minister Anthony Albanese was instrumental in the decision not to have the King’s image appear on the note, and asked him to “admit it”.
The bank plans to consult with indigenous groups on the design of the $5 note, a process they expect will take several years before the new note enters circulation.
The current Australian $5 note will remain in circulation until the new design is introduced and will remain legal tender even after the new note begins circulation.
The face of King Charles III is expected to appear on Australian coins this year. One Australian dollar is equal to about 71 United States cents.
