100 Piastres

This note was produced locally in Hanoi under Japanese occupation, when regular supplies from metropolitan France and established European security printers were cut off entirely. The Imprimerie d'Extrême-Orient was a commercial press, not a dedicated currency printer, and the compromises that forced are visible in the security features — or the absence of them. Forgery was a persistent problem with wartime Indochinese issues.

Phạm Ngọc Khuê's involvement on the reverse is genuinely unusual — a Vietnamese designer credited on a colonial banknote during this period is rare, and the circumstances under which he received the commission are not well documented.