Australia will replace its five Australian dollar banknote featuring Queen Elizabeth II with a new design that will reflect and honor the history of the continent's indigenous culture, the country's National Bank said today.

The decision followed consultations with the federal government, which supports the change, the statement said.
They add that on the other side of the banknote, as before, there will be a picture of the parliament.

Australian authorities said after the death of Elizabeth II that the image of King Charles III will not automatically replace the image of the late British queen on the five dollar bill and that it could be replaced with Australian motifs.

The Australian five dollar note is the only banknote in the country to bear the image of the Queen.

Australian coins must feature the image of the British monarch, and the new coins will feature the image of King Charles III.