10 Yuan

Manchukuo's Central Bank was technically an independent institution, but by 1944 it operated entirely under Japanese military-financial control, with note issuance driven by wartime procurement needs rather than any conventional monetary policy. The bank had long since abandoned meaningful reserve backing; this issue, like others from the final war years, was inflationary paper serving an occupation economy that was actively being stripped of industrial resources for the Japanese war effort.

P#J137 is among the later Manchukuo emissions before the Soviet invasion of August 1945 rendered the currency worthless overnight. Notes from this period frequently show evidence of rushed production.