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Australians ditch banknotes with Queen Elizabeth's likeness. Photo credit: John McArthur

Australia’s central bank ditches British monarchy

For decades, Elizabeth II accompanied Australians in their daily shopping – on the five-dollar banknote. But the popular monarch will be removed, because the central bank of Australia now wants to bring the culture of "First Australians" to paper money.

Published: February 3, 2023, 7:35 am

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    The Australian central bank no longer wants to depict the British monarchs on its paper money, the state financial institution said on Thursday.

    The back of the bill will continue to be the Australian Parliament in Australia’s capital, Canberra. The Social Democratic government under Prime Minister Anthony Albanese (Labour) supported the move. They will consult with representatives of the indigenous peoples of Australia on how to proceed. The culture of the so-called First Australians has already been depicted on the $1 bill, the $10 bill and the current $50 banknote.

    Australia’s Greens: ‘It’s time for a republic’

    “This is a major victory for the grassroots movement of Indigenous Australians who have fought to decolonize this country,” tweeted Australian House of Lords Senator Lidia Thorpe (Greens). The First Nations will never cede their sovereignty to a king or queen. “It’s time for a republic,” affirmed the Green Party.

    Traditionally, the British monarch is honored on various banknotes and coins throughout the Commonwealth. In Great Britain, the new design of the five pound note with the likeness of King Charles III.

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