Australia to erase British monarch from banknotes

Australia will erase the British-based monarch from its banknotes, replacing the late Queen Elizabeth II’s image on its $5 note with a design honouring Indigenous culture, the central bank has said.

The decision to leave her successor Charles III off the $5 note means no monarch would remain on Australia’s paper currency, reports AFP.

The Reserve Bank of Australia (RBA) said it would consult with indigenous people on a new design that “honours the culture and history of the First Australians”.

Queen Elizabeth II’s death on September 8 last year was marked by public mourning in Australia, but some Indigenous groups also protested the destructive impact of colonial Britain at the time, calling for the abolition of the monarchy.

Australia is a constitutional monarchy, a democracy with Charles as its head of state. A referendum proposing a switch to a republic was narrowly defeated in 1999.

The central bank said its decision was supported by the centre-left Labor government of Prime Minister Anthony Albanese, who favours an eventual move to an Australian republic.