Australia's central bank says it will remove the British monarchy from its bank notes

Australian $5 notes are pictured in Sydney on Sept. 10, 2022. King Charles III won't feature on Australia's new $5 bill, the nation's central bank announced Thursday, Feb. 2, 2023, signaling a phasing out of the British monarchy from Australian bank notes, although he is still expected to feature on coins. (Mark Baker/AP)

CANBERRA, Australia — Australia is removing the British monarchy from its bank notes.

The nation's central bank said Thursday its new $5 bill would feature an Indigenous design rather than an image of King Charles III. But the king is still expected to appear on coins.