Australia’s new 5 Dollar banknote will not feature Britain’s King Charles III, but rather a new design that honours the culture and history of the first Australians, the country’s central bank announced Thursday.

The design will replace the portrait of her majesty Queen Elizabeth II, the reserve bank of Australia said in a statement adding that the decision was made after consulting with the Australian Government.

The bank will consult with first Australians in designing the 5 Dollar banknote, which could take several years to be issued, it added.

The first Australians refers to the country’s indigenous population or first nations people, made up of aboriginal and Torres Strait Islanders, descendants of the world’s oldest continuous culture who have occupied the continent for more than 65,000 years. Together they make up about 3.2 per cent of the country’s population of 25 million people.

Meanwhile, the current 5 Dollar bill will continue to be in circulation and remain legal tender even after the introduction of the new banknote, according to bank officials, the existing coins with the Queen’s image will remain legal tender “forever.”

King Charles III will continue to be featured on coins, which the royal Australian mint is expected to start producing “in the second half of this year,” Andrew Leigh, the Assistant Minister for Competition, Charities and the Treasury, said in an interview.

CNN/Oluwayemisi Owonikoko

Subscribe to our Telegram and YouTube Channels also join our Whatsapp Update Group

 

pub-5160901092443552

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *