AUSTRALIA is set to remove pictures relating to the British monarchy from its banknotes.

The central bank said today that its new $5 note would feature an indigenous design, rather than an image of King Charles III, although the king is still expected to appear on coins.

The current $5 note is Australia’s only remaining banknote still bearing an image of the monarch.

The bank said the decision followed consultation with the government, which supported the change. Opponents say that the move is politically motivated.

The British monarch remains Australia’s head of state, but, like many former British colonies, the country is debating to what extent it should retain its constitutional ties to Britain.

Australia’s Reserve Bank said that the new $5 note would honour “the culture and history of the First Australians.”

“The other side of the $5 banknote will continue to feature the Australian parliament,” the bank added.

Bank treasurer Jim Chalmers described the change as an opportunity to strike a good balance.

Opposition leader Peter Dutton said that Prime Minister Anthony Albanese had been central to the decision that the king would not to appear on the new banknote, urging him to “own up to it.”

The bank plans to consult indigenous groups on the design of the new $5 note.