Australia to remove British monarch from banknotes

The central bank says it will consult Indigenous people on a new design

Australia will erase the British 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 said yesterday.

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

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

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

Australia is a constitutional monarchy, a democracy with Charles III 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.

The new banknote would take “a number of years” to be designed and printed, it said, with the existing $5 note remaining legal tender even after the new design is in people’s hands.

Some Indigenous groups protested against the destructive impact of colonial Britain, calling for the abolition of the monarchy.

‘No longer justifiable’

The RBA’s move was hailed by the nation’s republican movement, which noted that Indigenous people predated British settlement by 65,000 years.

“Australia believes in meritocracy so the idea that someone should be on our currency by birthright is irreconcilable, as is the notion that they should be our head of state by birthright,” said Australian Republic Movement chair Craig Foster.