20 Bolívares

Banco de Venezuela was established in 1890 with a concession from the government of Raimundo Andueza Palacio, granting it the exclusive right to issue banknotes in the republic — a privilege that generated constant political friction with rival regional banks throughout the following decade. By 1910, the bank was operating under the long shadow of the Cipriano Castro regime's chaotic monetary policies, which had severely damaged public confidence in Venezuelan paper currency generally.

The American Bank Note Company held the printing contract for this series, as it did for much of Venezuelan paper money in this period. ABNC's New York production brought consistent intaglio quality that domestic facilities could not match.