The portrait of King Charles is to be removed from British Commonwealth banknotes.
The monarch will not replace the portrait of the late Queen Elizabeth II on Australia’s new $5 banknote.
Queen Elizabeth has been featured on Australia’s pink $5 banknote since 1992.
But now the banknotes will feature a “new design that celebrates the culture and history of the first Australians”.
King Charles has no plans to replace the Queen’s portrait on Australia’s $5 banknote
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The new banknotes will feature an image of Parliament on one side and an Aboriginal theme on the other.
The Reserve Bank of Australia (RBA) has announced that people will be able to comment on what they want to see on one side of the banknotes that replace the British monarchy.
Reserve Bank Assistant Governor for Business Services Michelle McPhee said: “We are reimagining the $5 note as we seek a theme that reflects our country’s unique and rich Indigenous culture and history for all Australians. I encourage you to do so.”
“This can be a story, a place, an idea, a tool, an object that connects a community that is passed down through generations.”
Queen Elizabeth II has been featured on Australia’s $5 banknote since 1992.
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Charles III’s portrait will continue to appear on Australian coins.
The RBA said it would consult with the Australian Federal Government about the changes and it could take several years for the switch to take place.
The current banknotes, which feature the late Queen’s portrait, will continue to be printed and used until the new banknotes are completed.
Mr McPhee added: “It is critical that we involve the public in this process, and by actively engaging Indigenous communities we can better capture the themes that tell our country’s story.”
King Charles and Duchess Camilla at Broadbeach, Gold Coast, Australia, 2018
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King Charles ‘hopes’ to visit Australia in October 2024
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The King was scheduled to make a long-distance international tour to Australia in October 2024.
Despite his cancer diagnosis, the King is still “hoping” to travel Down Under later this year.
The royal tour will include Samoa’s federal leaders and will begin on October 21, 2024.
A source told the Telegraph: “He is certainly hopeful that plans will go ahead.”