The Reserve Bank of Australia has revealed the new design theme for the $5 banknote, which will no longer feature the British monarch’s portrait. Previously adorned with Queen Elizabeth II’s image since 1992, the revamped note will highlight the significance of Australia’s Indigenous communities under the theme “Connection to Country.”
The Reserve Bank announced that the new design will acknowledge the deep emotional and spiritual bond that First Nations peoples have with their land, as well as their vital role in environmental conservation and restoration. The bank aims to reflect this connection through artwork that embodies the custodial responsibilities of Indigenous Australians in caring for the environment.
The decision to change the note’s imagery followed extensive public engagement, with over 2,100 submissions considered. While the final artwork details remain pending, there is a commitment to avoid representations that are tokenistic or stereotypical. The overall tone of the new banknote is intended to convey a hopeful future, celebrating and respecting the relationship First Nations peoples hold with their Country.
Despite the changes, the reverse side of the banknote will retain the image of Parliament House in Canberra. The late Queen’s portrait graced Australia’s currency in various forms since 1966, initially appearing on the $1 note until its discontinuation in 1984, and then on the $5 note from 1992 until now.
Following Queen Elizabeth II’s passing in 2022, the Reserve Bank made the significant move to shift away from royal imagery in favour of a design that honours the culture and history of First Australians. The new banknote is expected to be produced over several years, with the current $5 note having entered circulation in 2016.