Australia's new $5 note won't feature King Charles - CNN

1 year ago 45

Australian dollar banknotes of assorted denominations seen successful Sydney successful 2017.

Brisbane CNN —

Australia’s caller $5 banknote volition not diagnostic Britain’s King Charles III, but alternatively a caller plan that honors “the civilization and past of the First Australians,” its cardinal slope announced Thursday.

The plan volition regenerate the representation of Her Majesty Queen Elizabeth II, the Reserve Bank of Australia (RBA) said in a statement, adding that the determination was made aft consulting with the Australian government.

The slope volition consult with First Australians in designing the $5 banknote, which could instrumentality respective years to beryllium issued, it added.

First Australians refers to the country’s Indigenous population, oregon First Nations people, made up of Aboriginal and Torres Strait Islanders, descendants of the world’s oldest continuous civilization who person occupied the continent for much than 65,000 years. Together they marque up astir 3.2% of the country’s colonisation of 25 cardinal people.

Meanwhile, the existent $5 measure volition proceed to beryllium circulated and stay ineligible tender adjacent aft the instauration of the caller banknote, according to the RBA. Officials person besides said existing coins with the Queen’s representation will remain ineligible tender “forever.”

King Charles III volition proceed to beryllium featured connected coins, which the Royal Australian Mint is expected to commencement producing “in the 2nd fractional of this year,” Andrew Leigh, the adjunct curate for competition, charities and the treasury, told ABC Radio successful an interview.

The mint has said it expects to unveil the plan of the archetypal King Charles coins aboriginal this year.

Billions of bills and coins astir the satellite featuring the representation of Queen Elizabeth II are successful the process of being replaced pursuing her death past September.

The Queen’s representation is emblazoned connected definite banknotes and coins crossed the Commonwealth — an relation of 54 countries, astir each of which were formerly colonized by the United Kingdom.

In Australia, the Queen’s representation “has been represented successful each Australian banknote bid since her coronation,” done 7 decades, according to the RBA.