Instead, the current $5 bill's portrait of the late Queen Elizabeth II will be replaced with"the culture and history of the First Australians," the island nation's Indigenous people.
The Reserve Bank will reportedly consult Indigenous groups to help create the design. The new bill will take"a number of years to be designed and printed," the Bank said. The decision was made with the support of the current Australian government, which has been under the leadership of the Labor Party and Prime Minister Anthony Albanese since May 2022. He assumed the throne as king of the United Kingdom and its commonwealth on September 8 2022, after the death of his mother.
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