The decision ends a longstanding tradition of Australia's British-based head of state on the bank notes.
Why it matters: The Australian Reserve Bank Board's decision ends a longstanding tradition of Australia's British-based head of state on the bank notes.
The Reserve Bank said in a statement on Thursday morning local time it would consult with Indigenous Australians on a "design that honours the culture and history" of Aboriginal and Torres Strait Islander people over the next few years.The current $5 note can continue to be used even after the new note is issued, according to the central bank.Four years later in 1988, Australia's first polymer note of $10 featured ancient and contemporary Aboriginal art.
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