No change to banknotes after the Queen’s passing

  • By Zilla Efrat

There will be no immediate change to Australian and New Zealand banknotes following the death of Queen Elizabeth II.

The Reserve Bank of Australia says the $5 banknotes featuring the image of the Queen can continue to be used. They will not be withdrawn and are likely to remain in circulation for years to come.

The reigning monarch has traditionally appeared on the lowest denomination of Australian banknote.

The RBA will provide further updates in due course.

Meanwhile, the Reserve Bank of New Zealand says there is no immediate impact on New Zealand’s banknote and coin designs and cash use as a result of a change in Sovereign.

All existing coins and $20 banknotes in circulation featuring Queen Elizabeth remain legal tender, it says. 

“It will be several years before we need to introduce coins featuring King Charles the Third, and longer until stocks of $20 notes are exhausted,” it adds.