The symbol of the British monarchy will be removed from Australian banknotes. The country’s central bank announced on Thursday that the new five-dollar note will have a ‘design’ that reflects the country instead of a picture of Britain’s King Charles III. The portrait of king Charles III, on the other hand, is likely to continue to appear on coins.
The bank stated that the decision was made after consultation with the government, and the government has supported the change. Opposition parties, on the other hand, have called this action politically motivated.
The British monarch, King Charles III is still regarded as Australia’s head of state, although his role is now largely symbolic. The Reserve Bank of Australia has said that the new five-dollar note will replace the portrait of Queen Elizabeth II with a different design. Queen Elizabeth II died last year.
The bank said the move would demonstrate respect for the “culture and history of Indigenous Australians”. “The reverse side of the $5 note will continue to feature the Australian Parliament,” the bank said in a statement. Treasurer Jim Chalmers described the change as a chance to strike a fine balance.
“The monarchy will remain on the coins, but the five-dollar note will reflect our history, our culture, and our country,” he told reporters in Melbourne. I think it’s a great move.”
Opposition Leader Peter Dutton compared the move to changing the date of “Australia Day” (National Day). He told ‘2GB Radio’ that a large number of people who are currently silent oppose this, and that such people will be seen expressing their views online. Dutton said the decision was primarily Prime Minister Anthony Albanese’s and he should take responsibility for it.
The image of Maharaja Charles III will appear on the coins later this year. In US currency, one Australian dollar is worth about 71 cents.
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