No Australian $5 bill for King Charles III
The five-dollar bill is Australia’s smallest-denomination banknote and is worth about $3.55 in US dollars. There are approximately 208 million fivers currently in circulation, sporting the Australian parliament building in Canberra on the reverse and the traditional portrait of the late Queen Elizabeth II on the obverse.
Queen Elizabeth II passed away in September 2022, after a 70-year reign. Though Australia has been formally independent from Great Britain since 1901, it considers the British monarch its symbolic head of state. But the things are about to change Down Under now.