Queen swapped for Indigenous design on future $5 notes

Queen Elizabeth II's image will be taken off the $5 note when a new design is issued. (Lukas Coch/AAP PHOTOS) (AAP)

King Charles III won't feature on the $5 note, with the portrait of the late Queen Elizabeth II to be replaced with an Indigenous design.

The Reserve Bank has decided to update the note to feature a new design which "honours the culture and history of the First Australians".