The image of King Charles III will not be replacing that of Queen Elizabeth II as a feature on new Australian bank notes.

The country’s new $5 bill will feature an Indigenous design rather than King Charles III, the nation’s central bank has said.

 The bank said the decision followed a consultation with the centre-left Labour Party government, which supported the change.

However, opponents say the move is politically motivated.

The British monarch is Australia’s head of state, but like other former British colonies, Australia is moving to becoming a republic.

Australia’s Reserve Bank said the new $5 bill would feature a design to honour “the culture and history of the First Australians.”

In 2021, Australia officially changed its national anthem to remove reference to the country being “young and free”, amid calls to recognise that its Indigenous people are the oldest civilization in the world.