Yahoo Finance RBA asks Aussies for help on new $5 note design
The central bank says it has started consulting First Nations communities about the design process.
The Reserve Bank (RBA) has asked Aussies to give their two cents on what they think should be on our new $5 banknote.
The central bank confirmed last year that the banknote’s new design would be one that “honours and celebrates the culture and history of First Nations peoples”.
Now, RBA governor Michele Bullock has said the bank will be asking Australians what they think should be featured on the new pink notes, as a “first step” in determining the design.
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“We will be asking members of the public, over the course of March and April, to share with us what they think should be on our $5 banknote to represent First Nations culture and history in Australia,” Bullock told the house standing committee on economics today.
“In recent weeks, we have also begun visiting First Nations community organisations in key regional and remote locations across Australia and the Torres Strait, to engage with local communities about the theme-nomination process.
“I encourage all Australians to be involved in contributing to this important endeavour.”
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The RBA first announced the $5 note would be updated in February last year, replacing the current portrait of the late Queen Elizabeth II. The other side of the $5 note will continue to feature the Australian Parliament.
The new banknote would still take a number of years to be designed and printed, the RBA said. In the meantime, the current $5 banknote will continue to be issued and can be used even when the new note enters circulation.
Indigenous designs have been on Australian bank notes for decades. The first $1 banknote, which was issued in 1966, included imagery based on bark painting by David Malangi Daymirringu.
Australia’s current $50 note features David Uniapon, a Ngarrindjeri man who was an author, activist, inventor and preacher.
While King Charles III won’t replace his mother on the new $5 notes, Aussies will now be seeing new coins with his portrait on them. The gold $1 coin is the first to use the new monarch’s effigy, with 3.5 million coins entering into circulation in December.
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