The Reserve Bank of Australia announced King Charles III will not be printed on the country's $5 notes following the transition from currency featuring Queen Elizabeth II.
FOX Business' Neil Cavuto and Ashley Webster discuss Queen Elizabeth II's impact on the country's finances.
"The Bank will consult with First Australians in designing the $5 banknote. The new banknote will take a number of years to be designed and printed. In the meantime, the current $5 banknote will continue to be issued. It will be able to be used even after the new banknote is issued," the bank said in a statement.
Though the British monarch remains Australia's head of state for now, the country has been in debate over the decision to cut its constitutional ties to Britain.
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