Australia will not replace the portrait of Queen Elizabeth II on its five dollar bank note with a picture of King Charles III. Rather, a new design will take its place which will reflect and honor the history of its indigenous culture.
The decision was announced by Australia's central bank following consultation with the federal government, which supports the change. Australian central bank added that the other side of the note will continue to feature the Australian Parliament.
Queen Elizabeth's death last year has reignited debate in Australia about its future as a constitutional monarchy. Voters narrowly chose to maintain the British monarch as its head of state in the 1999 referendum.
Australian authorities had earlier said following Queen's death that the image of King Charles III would not automatically replace her on the five dollar note and that she might be replaced by the Australian figures.
The government said at that time that the decision to include her image on the five dollar note was about her personality as opposed to a status as the monarch. The five dollar bank note is the only Australian bank note to carry the image of the Queen.
Australian coins, on the other hand, are mandated to carry the image of the British monarch, so new coins will have King Charles III image. King Charles III is the Head of State in Australia, New Zealand and twelve other Commonwealth realms outside the United Kingdom.
Although the role is largely ceremonial at the monarch.
