A spelling error has been revealed on Australia’s new $50 note – but only after 46 million of them were printed.

Much to the embarrassment of the Reserve Bank of Australia, the word ‘responsibility’ has been printed with a missing ‘i’.

The mistake was pointed out in a tip-off to radio station Triple M this morning.

The word ‘responsibility’ has been printed with a missing ‘i’ on the new $50 note. (AAP)

In the near-microscopic reverse text featured on the note that details the inaugural parliamentary speech of Australia’s first female MP, Edith Cowan, the word has been spelt as “responsibilty”.

The Reserve Bank of Australia has since confirmed the mistake to 9Finance and promised the misprint will be corrected in the rollout of future notes.

"The error is being corrected as part of a normal print run so there is no additional cost. We are not withdrawing or recalling banknotes with the spelling error.

Australia's newest $50 note has been revealed to include a spelling error in the near-microscopic text featured on the banknote. (AAP)

"These banknotes are legal tender and can continue to be used as normal. It does not affect their validity and functionality in any way," the RBA said in a statement.

"As a result of spelling mistake, we have reviewed our processes to remove the likelihood of such an error occurring in the future. "

The new fifties came into circulation in October last year and 46 million have been printed so far - totalling $2.3 billion.

The RBA trumpeted that they were printed with “a range of innovative new security features… to help keep it secure from counterfeiting”.