The Central Bank of Australia said on Thursday that the former Queen Elizabeth II would be replaced by an image of indigenous Australian culture on the five-dollar currency note.
Removing the image of Britain's new king, Charles III, from the five-dollar note means there will no longer be an image of a monarch on Australia's currency notes.
The Reserve Bank of Australia says it will consult with its country's indigenous peoples about the new note design to prioritize the culture and history of Australians.
On the occasion of the death of Queen Elizabeth II last year on September 8, mourning was officially announced in Australia, but some Australian indigenous organizations protested against the destructive effects of the British colonial era and demanded the end of the monarchy.
Australia is a democratic country, but being a constitutional monarchy, its head is King Charles III.
The Reserve Bank of Australia has said its decision is supported by the government of Prime Minister Antony Albenez, who supports making Australia a democratic state.
The central bank notes that it will take "several years" to design and print the new note, but the old five-dollar note will continue to be used.
This move by the Reserve Bank of Australia has been applauded by the republican movement.
The Republican movement in favor of giving Australia the status of a republican country has said that before the British settlement, more than 65,000 indigenous Australians were on their land.
