Why the King’s portrait will not feature on Australia’s new five dollar banknote

King Charles III’s image will not feature on Australia’s new five dollar banknote, as its portrait of the late Queen Elizabeth II is to be replaced with a design honouring indigenous Australians.

“The Reserve Bank has decided to make the next $5 bank note feature a design honouring the culture and history of First Australians,” Jim Chalmers, treasurer of Australia said, as he announced the decision.

“I think this is the right decision, come to for the right reasons.”

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