Australia to replace monarch on banknote with design honouring Indigenous culture

Australian $5 banknotes with a portrait of the late Queen Elizabeth II are seen in this picture illustration taken February 2, 2023. REUTERS/Loren Elliott/Illustration

SYDNEY (Reuters) -Australia will replace the portrait of Queen Elizabeth II on its A$5 banknote with a new design to reflect and honour the history of its Indigenous culture, the country's central bank said on Thursday.

The decision follows consultation with the federal government, which supports the change, the Reserve Bank of Australia said in a statement. The other side of the note will continue to feature the Australian Parliament, it said.