Australia’s New $5 Note - Business Outrank

For the first time in its history, Australia’s new $5 note will carry artwork that replaces the image of the British monarch with one that celebrates the deep connection of Aboriginal and Torres Strait Islander people to the land. The Reserve Bank of Australia (RBA) has actually unveiled the call for submission for the new design, which will celebrate the ‘emotional, spiritual and physical connection’ the First Nations people have with the land, sea and waterways of the country. The omission of King Charles III has caused a controversy ever since it was announced in 2023. Peter Dutton, the Opposition leader, called it an ‘attack on institutions’, while others considered it a progressive move to include Indigenous history and thus, a challenge to the doctrine of terra nullius. This legal concept that led Australia to be treated as an unoccupied place before European settlement in 1788 was defeated in the Mabo decision of 1992 which allowed Indigenous land rights. The banknote will become the first in Australia’s history to do not bear the image of a specific person. Nevertheless, the Australian federal parliament will still be shown on the reverse. The RBI has stated that the designs should demonstrate the strength and participation of the Indigenous populations and should not include common or generic representations. The new art also is predicted to expand on the concept of environmental stewardship by depicting the generations of sustainable practices of First Nations people. Indigenous imagery has been incorporated into Australian currency for a long time. Since 1988, the $2 coin has had Gwoya Tjungurrayi, survivor of one of the final recorded massacres of this nation. The $50 note bears David Unaipon, a Ngarrindgerri author and inventor. Submissions for the new $5 note design will be accepted until April 2024, as Australia continues to try to incorporate its multiform heritage.

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Browsing: Australia’s New $5 Note