Extraordinary change announced for Australia’s $5 note and King Charles won’t replace the Queen – here’s what you’ll see instead
The Reserve Bank has decided to update the $5 banknote with a new design that honors the culture and history of the First Australians.
This new design replaces the portrait of Her Majesty Queen Elizabeth II. On the other side of the $5 banknote, the Australian Parliament remains.
This decision by the Reserve Bank Board follows discussions with the Australian Government, which supports this change.
The Bank will consult First Australians when designing the $5 banknote. The design and printing of the new banknote will take several years. In the meantime, the current $5 banknote is being issued. It will be able to be used even after the new banknote is issued.
King Charles will not appear on the Australian $5 note (pictured is counterfeit $5 note featuring King Charles)