Australia to Remove British Monarchy from Banknotes

On Thursday, Australia's nation's central bank said its new $5 bill would feature an Indigenous design rather than an image of King Charles III.

The $5 bill was Australia's only remaining banknote to still feature an image of the monarch.

However, the central bank did not give any details about the image of the late Queen Elizabeth II, which appears on some circulating coins.

Australia is a member of the Commonwealth of Nations and its official head of state is King Charles III, represented by a Governor-General. Upon the death of Elizabeth II, she declared a national day of mourning on the eighth of September.

Nevertheless, some indigenous groups condemn the devastating consequences of British colonialism and call for the abolition of the monarchy. In 1999, a referendum on the issue saw the Republicans narrowly defeated.

The central bank said its decision was supported by the centre-left Labor government, led by Anthony Albanese, which favors a possible transition to an Australian republic.

The Reserve Bank of Australia confirmed that indigenous people would be consulted on a new design that honors “the culture and history of the first Australians," explaining that the design and printing of the new banknote would take "years."

Until this happens, the banknotes bearing the image of the late queen in circulation will remain legal. The Australian Republican Movement praised the decision to remove the images of the kings, noting that indigenous peoples preceded British colonialism by 65,000 years.