Well, it looks like Australian residents will see a major change coming to their currency very soon.
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Today, Australia’s Reserve Bank announced that the late Queen Elizabeth II’s portrait will no longer grace the country’s five dollar bill. (FYI, the five dollar bill was the only Australian paper currency to still feature the late monarch’s face).
But in the case of Australia, His Majesty will not replace his mother on the five. Instead, a new original design dedicated to Indigenous groups will soon be on the bank note. (However, some new Australian coins do feature the king’s face.)
“The other side of the $5 bank note will continue to feature the Australian parliament,” the bank said in an official statement, according to ABC News.
So, why the sudden change? Even though the British monarchy remains the head of the state, the decision came after a discussion within the center-left Labor Party government. The national bank also revealed the change would honor and celebrate the “culture and history” of the First Australians.
Following the announcement, Treasurer Jim Chalmers shared his support for the change, revealing in a statement, “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.”
To create the new design, the national bank plans on consulting with Indigenous groups to get their input on the process. But until then, the current five dollar bill design will continue to be full in circulation throughout the country.
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Change continues to be afoot for the royal family.
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