Letters from the Reserve Bank to some of government’s most senior ministers about a decision to scrap the image of the late Queen from Australia’s $5 note can be revealed.
King Charles III won’t feature on the note, with the central bank announcing on Thursday it will replace the monarch with a new design which “honours the culture and history of the First Australians”.
Letters sent by Reserve Bank Governor Philip Lowe to lndigenous Australians Minister Linda Burney and Treasurer Jim Chalmers have been publicly released, as well as the response by Chalmers. 
In correspondence to the treasurer, Lowe asked if it was the government’s view whether the monarch should continue to feature on the $5 note….