Indigenous shift: Oz bank note to junk monarchy

Australia is removing the British monarchy from its bank notes. The nation's central bank said on Thursday its new $5 bill would feature an Indigenous design rather than an image of King Charles III. But the king is still expected to appear on coins that currently bear the image of the late Queen Elizabeth II.

The $5 bill was Australia's only remaining bank note to still feature an image of the monarch.

The bank said the decision followed consultation with the centre-left Labour Party government, which supported the change. Opponents say the move is politically motivated.

The British monarch remains Australia's head of state, although these days that role is largely symbolic.

many former British colonies, Australia is debating to what extent it should retain its constitutional ties to Britain.

Australia's Reserve Bank said the new $5 bill would feature a design to replace the portrait of the queen, who died last year.

The bank said the move would honour "the culture and history of the First Australians." "The other side of the $5 banknote will continue to feature the Australian parliament," the bank said in a statement.

Treasurer Jim Chalmers said the change was an opportunity to strike a good balance.