Reserve Bank could put King Charles on $5 banknote if future government wanted it

Documents reveal RBA would consult with the government of the day' and Peter Dutton has made clear he would support such a move

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The Reserve Bank of Australia has left the door open to putting King Charles III on the $5 note if a future government were in favour of restoring the monarch to the lowest denomination note, after Peter Dutton made clear he supports such a move.

In February, the RBA announced that King Charles would not replace his late mother, Queen Elizabeth II, on the banknote and instead it would feature a design honouring the history or culture of First Nations people.

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