New $50 To Hit The Streets In October

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New $50 To Hit The Streets In October Fox

The covers have come off Australia's next new bank note - the brand new $50.

The new note, featuring portraits of Aboriginal writer and inventor David Unaipon and the first female member of Australian parliament Edith Cowan, goes into circulation in October.

In the meantime the Reserve Bank is working hard with manufacturers of all equipment handling bank notes, such as ATMs and automatic check-outs to make sure they're ready.

Australia is going through the process of updating all of our notes, adding improved security features to make them harder to fake. Any existing $50 banknotes can continue to be used, and the $20 banknote will be next to get an upgrade in 2019.