Who’s replacing Queen Elizabeth II on Australia’s $5 bill?

Instead of King Charles III’s portrait on the A$5 banknote, Australia will replace Queen Elizabeth II’s portrait with a design honoring Indigenous culture in Australia (AKA the First Australians). After consulting with the federal government, the Reserve Bank of Australia announced the change on Feb. 2, 2023. Indigenous groups will be involved in designing the updated banknote. The current note will continue to be issued until the revised design is ready.