Letters from the Reserve Bank to some of the government's most senior ministers have shed light on this week's decision not to show the monarch on Australia's $5 note.
abc.net.au/news/letters-from-reserve-bank-reveal-decisions-behind-5-note/101930380Letters from the Reserve Bank to some of the government's most senior ministers have shed light on this week's decision not to feature King Charles III on Australia's $5 note.
The central bank announced on Thursday it will replace the monarch with a new design which "honours the culture and history of the First Australians". In his letter to the treasurer, Dr Lowe asked if it was the government's view whether the monarch should continue to feature on the $5 note. "Accordingly, I am seeking the Australian government's view on whether or not a portrait of King Charles lll should replace that of Queen Elizabeth ll.""Of these two options presented by the bank, the government would be comfortable with a new design that honours the culture and history of First Australians, assuming a proper process for inclusive consultation is undertaken," the letter reads.
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