New Delhi: The Reserve Bank of Australia announced on Thursday it would remove the photo of Queen Elizabeth II from its A$5 currency note and replace it with a new design to reflect and honour the history of its Indigenous culture.
The central bank's decision comes amid consultation with the federal government which is in favor of the change, the Reserve Bank of Australia said in a statement, according to the news agency Reuters. Even as the portrait will get replaced in the note, the other side of the note will continue to display the Australian Parliament.
The death of Queen Elizabeth last year fuelled debates in the country over its future as a constitutional monarchy. In a 1999 referendum, voters narrowly opted for maintaining the British monarch as its head of state. This means that King Charles III, who became British monarch after his mother's death will not be seen in the Australian currency.
King Charles III took over as the head of state in Australia, New Zealand, and 12 other Commonwealth realms outside the United Kingdom. However, this role is largely ceremonial.
In September 2022, the country said the King Charles image would not replace Queen Elizabeth automatically on A$5 notes and that she might be replaced by Australian figures.
At that time, authorities said the decision to include the queen's image on the A$5 dollar note was more akin to her personality as opposed to her status as the monarch.
The decision on the note comes amid Australia's centre-left Labor government pushing for a referendum which is required to alter the constitution. It said the move is aimed to recognise Indigenous people in the document which will also require consultation with them regarding the inclusion that affects their lives.
In 2021, Australia officially amended its national anthem to remove reference to the country being "young and free" amid calls to recognise that its Indigenous people are the oldest civilization in the world.
The Reserve Bank said it would consult with Indigenous groups in designing the A$5 banknote. It will take a number of years to design and print the new banknote. Until then, the current note will continue to be issued.