The reimagined Australian $5 bill will sport a new Indigenous theme and replace the longstanding portrait of the British Monarch, the Reserve Bank of Australia has revealed.
Since 1992, Queen Elizabeth II featured on the smallest Aussie note, but the next design will not feature King Charles III.
The RBA said the theme of the new banknote, called Connection to Country, would focus on the significance of country to Aboriginal and Torres Strait Islander people.
"Country is the land, the waters and the sky," the RBA said in a statement.
"Key to this theme is the recognition of First Nations communities' contribution to the restoration and conservation of our environment.
"An important context for this connection is the overturning of the concept of terra nullius," the RBA continued.
"In acknowledging connection and caring for Country the theme should be inclusive, recognising the nature of Country varies, but it is all connected."
More than 2100 submissions were made by the Australian people for the new design.
The RBA said the updated banknote was an opportunity to represent what makes Australia so special – its First Nations people – and therefore it should "avoid being tokenistic or stereotypical".
A final design is yet to be confirmed for the banknote, but Canberra's Parliament House will remain.
The $5 bill isn't the only piece of cash that featured the late Queen Elizabeth II.
She also appeared on the $1 note between 1966 and 1984.
In 2023, following the death of Queen Elizabeth, the RBA announced it would redesign the note in a way that "honours the culture and history of the First Australians."
Circulation of the new banknote is expected to begin in several years.
Holly Truelove - NCA NewsWire
