The Central Bank of Australia will be spotting a new look on their $5 note. The news came out on Thursday. The old banknote has been spotting the image of the late Queen Elizabeth II, who died last year September at age 96.
However, this news comes with a bit of a twist. It is considered fitting that, if Australia’s Central Bank would want to replace the face of the late monarch on the grounds that she’s deceased, it might as well replace her with King Charles III—But that’s not going to happen.
Queen Elizabeth III — Details Of The New Australia $5 Bill
According to the Reserve Bank Board, the new dollar note will not be featuring the current King of England, it’ll rather feature “the culture and history of the First Australians.” It’s said that the other side of the note will remain the same —which is, keep featuring the Australian Parliament.
The Reserve Bank Board said in their statement released Thursday, February 2, “This decision by the Reserve Bank Board follows consultation with the Australian Government, which supports this change.” And, even though the Queen’s reign on the Australia $5 ends with the old ones, it’s said that the old $5 will continue to be legal tender forever.
“The Bank will consult with First Australians in designing the $5 banknote. The new banknote will take a number of years to be designed and printed. In the meantime, the current $5 banknote will continue to be issued. It will be able to be used even after the new banknote is issued.” The statement continued.
What the RBA actually meant by “First Australians” are the first people that made up the population of Australia. They are made up of Aboriginal and Torres Strait Islanders who lived in Australia for about 65,000 years before they were colonized by the British.
Queen Elizabeth III — King Charles III Will Be Featured On Four New Pound Notes
Although the King will not be featured on the new Australia $5, the King will be featured on the Australia coins.
Also, as of December last year, four new banknotes £5, £10, £20, and £50 featuring the images of King Charles III were introduced by the Bank of England.
The statement released by Andrew Bailey, governor of the Bank of England reads, “I am very proud that the Bank is releasing the design of our new banknotes which will carry a portrait of King Charles III. This is a significant moment, as The King is only the second monarch to feature on our banknotes. People will be able to use these new notes as they start to enter circulation in 2024.”
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