The image of Britain’s King Charles Swim will not be used on Australia’s new $5 currency note.
This announcement was made by the Central Bank of Australia.
The Reserve Bank of Australia (RBA) said the design of the new note will pay tribute to the culture and history of the country’s indigenous people.
The $5 note currently circulating in Australia features the image of the late Queen Elizabeth II.
After the Queen’s death last year, debate began in Australia regarding the future of Britain’s constitutional monarchy.
The central bank said in its statement that the decision of the Reserve Bank Board was taken in consultation with the government.
According to the statement, the bank will consult with the Aboriginal people of Australia for the design of the $5 banknote.
The statement said that the design and issuance of the new notes may take several years, while the current notes will continue to be issued.
The $5 note in Australia is the only currency note to feature a portrait of a member of the British royal family.
The central bank said no date has yet been set for the introduction of the new note design.