Queen Elizabeth II Disappears from Australian 5 Dollar Banknote

$5 Bill Changes from Elizabeth II to Indigenous Design
Coins Featuring King Charles III to Circulate Within the Year

[Asia Economy Reporter Kim Hyunjung] The portrait of the late Queen Elizabeth II of the United Kingdom, which appears on Australia's 5-dollar banknote, a Commonwealth country, will be removed.

On the 2nd (local time), according to major global news agencies such as Bloomberg and AFP, the Reserve Bank of Australia (RBA), which issues Australian banknotes, announced that the design of the 5 Australian dollar (approximately 4,350 KRW) banknote will be changed to a design related to "the First Australians, that is, Indigenous culture." Until now, the 5 Australian dollar note featured a portrait of Queen Elizabeth II, who passed away last year.

Front and back of the currently circulating 5 Australian dollar banknote. [Photo by Yonhap News]

The RBA stated, "The new design will reflect the history and culture of the 'First Australians,' that is, the Aboriginal people," adding, "However, the image of the Australian Parliament House on the reverse side will continue to be maintained." The RBA also added, "This decision was made in consultation with the federal government." It is expected to take several years before the new design is finalized and the new banknotes are printed.

AFP reported that Australian republicans, who advocate for the abolition of the monarchy, welcomed this decision, pointing out that "Australian Indigenous people have lived in Australia for 65,000 years before British immigrants settled."

There is analysis that the reason the portrait of the new British monarch, King Charles III, will not appear on the 5 Australian dollar note is due to anti-monarchy sentiments. Meanwhile, the Australian government explained that the reason Queen Elizabeth II's face was featured on the banknotes was not because of her position but because of her character. Additionally, King Charles III's portrait is planned to appear on Australian coins instead of banknotes. The Australian government has already announced that coins featuring the current monarch's portrait will be minted and circulated within this year.

Currently, Australian banknotes come in five denominations: 5, 10, 20, 50, and 100 Australian dollars. The 10-dollar note features poet Banjo Paterson (male) and Dame Mary Gilmore (female) on the front and back, respectively; the 20-dollar note features John Flynn (male), founder of the world's first aerial medical service, and philanthropist Mary Reibey (female). The 50-dollar note features Indigenous writer and inventor David Unaipon (male) and Australia's first female member of parliament Edith Cowan (female), while the 100-dollar note features opera singer Nellie Melba (female) and engineer, soldier, and administrator Sir John Monash (male).