Australia to remove British royal family coins from its banknotes

CANBERRA, Australia (AP) – Australia is removing the British Monarchy from its banknotes.

The country’s central bank said on Thursday that its new $5 bill will feature an indigenous design rather than an image of King Charles III. But the king must still appear on the coins.

The $5 note was the only remaining Australian banknote that still featured the monarch.

The bank said the decision followed consultations with the government, which supported the change. Opponents say the move is politically motivated.

The British monarch remains the head of state of Australia, although this role is largely symbolic these days. Like many former British colonies, Australia is debating to what extent it should retain its constitutional ties to the UK.

The Reserve Bank of Australia has announced that the design of the new $5 note will replace the portrait of Queen Elizabeth II, who passed away last year. The bank said the move would honor “the culture and history of early Australians”.

“The other side of the $5 note will continue to feature the Australian Parliament,” the bank said in a statement.

Treasurer Jim Chalmers said the change was an opportunity to find a good balance.

“The monarch will still be featured on the coins, but the $5 bill will tell more about our history, our heritage and our country, and I think that’s a good thing,” he told reporters in Melbourne.

Opposition leader Peter Dutton likened the move to changing the date of the national holiday, Australia Day.

“I know the silent majority disagree with a lot of the things that are going on, but we need to hear more from these people online,” he told 2GB radio.

Dutton said Prime Minister Anthony Albanese played a central role in the king’s decision not to appear on the note, urging him to “admit it”.

The bank plans to consult with indigenous groups when designing the $5 note, a process expected to take several years before the new note is published.

The current $5 will continue to be issued until a new design is introduced and will remain legal tender even after the new bill enters circulation.

The face of King Charles III is expected to appear on Australian coins later this year.

One Australian dollar is worth about 71 cents in US currency.