The Reserve Bank of Australia (RBA) has announced significant changes to the design of the five-dollar banknote.
It will replace the portrait of Queen Elizabeth II with imagery that honours the cultural and historical significance of Aboriginal and Torres Strait Islander peoples.
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This redesign follows extensive consultations with Indigenous communities and over 2,100 public submissions, ensuring the new note reflects a deep respect for First Nations cultures.
RBA assistant governor Michelle McPhee said the chosen theme, “Connection to Country,” will guide the creation of artwork by a First Nations artist.
“The inspiring theme will guide the creation of an artwork that will feature on the redesigned banknote,” she said.
The reverse side of the new five-dollar note will continue to feature the Australian Parliament House, maintaining a link to the nation’s democratic heritage.
The RBA claimed that the design will avoid tokenism and stereotypes.
In February 2023, the RBA confirmed that King Charles would not appear on the banknote following the queen’s passing.
While the final design is yet to be confirmed, the RBA anticipates that the updated banknote will enter circulation within the next few years.
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