Novelist Jane Austen is favourite to replace Charles Darwin as the face of the new £10.
The news comes after Bank of England boss Sir Mervyn King was criticised by Rutland resident Caroline Criado-Perez over the decision to put a man – Sir Winston Churchill – on the new £5 note.
The former wartime PM will replace social reformer Elizabeth Fry who can be found on current fivers.
In April, Caroline launched a legal challenge, backed by a 30,000-signature petition, against the move, because it meant there would be no women represented on British banknotes, apart from the Queen.
Sir Mervyn was adamant the change was taking place.
Now, however, he has announced that Pride and Prejudice author Miss Austen is the leading candidate to replace Charles Darwin on the new £10.
Caroline, 29, said she believed the news was a reaction to her campaign, which she is continuing to pursue.
She has a legal team representing her, which said the Bank of England was failing in its duties to eliminate gender discrimination under the Equality Act.
"From the perspective of the campaign, this is by no means the end," said Caroline.
"The bank has been very peculiar in its dealings. They claim this has been in the works for a year.
"If Austen has been around all along, why are they only just announcing this despite the many hours of campaigning and money spent on legal fees and so on?
"Considering the way they have been prevaricating and changing their minds about what they can and can't say, it seems clear to me that everything they've done since the campaign started has been in reaction to it."
Challenging the Bank will cost Ms Criado-Perez about £13,000.
Solicitors Deighton Pierce Glynn got in touch with her to say it thought she had a strong case to challenge the decision.
She set up a website to raise money to cover her potential legal costs just over two weeks ago – and has already reached her target.
She said: "Unless the Bank responds more satisfactorily, this will still be going ahead."
"So next step depends on the Bank really – the ball is in their court."
Leicester West MP Liz Kendall backed Ms Criado-Perez's campaign.
Responding to the news that Jane Austen could appear on the £10 note, she said: "It's wonderful that the governor of the Bank of England has decided to recognise and celebrate women's contributions to our society and our economy, and I look forward to seeing his proposals. I'm glad the Bank looks as though it's listening."
