King Charles III banknotes replaced: Australia announces decision to remove British monarchy from currency
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Australia has revealed their latest banknote, removing the British monarchy from the design. Officials have instead chosen images celebrating Indigenous culture on the $5 bill rather than the portrait of King Charles III..
The redesign was confirmed on Wednesday (February 1) by Australia’s Reserve Bank. They explained the change will act as a way to honour “the culture and history of the First Australians”.
Australia’s $5 bill is currently the country’s only banknote to feature a member of the Royal Family and British monarchy. The other side of the banknote shows the Australian Parliament which will remain on the new design.
King Charles III holds the largely symbolic role as the country’s head of state. His portrait is still expected to still feature on the face of coins.
Australia’s Reserve Bank treasurer Jim Chalmers told reporters: “The monarch will still be on the coins, but the $5 note will say more about our history and our heritage and our country, and I see that as a good thing”.
Opposition leader Peter Dutton appeared on 2GB Radio to state his opinion on the decision. He explained how he opposes the change and described it as an “attack on society” and “woke nonsense”.
Mr Dutton said: “I know the silent majority don’t agree with a lot of the woke nonsense that goes on but we’ve got to hear more from those people online”.
The current $5 bill in Australia will continue to be legal tender and will still be issued countrywide until the new design has been approved and introduced.