20 Francs

The Banque de l'Indochine's 20 Francs series straddles one of the most turbulent currency transitions in colonial monetary history. By 1951, French Indochina had already fractured politically — Vietnam, Laos, and Cambodia were each moving toward separate monetary arrangements — yet the Banque de l'Indochine continued issuing unified franc-denominated notes across the territory until the piastre's final abolition and the institution's eventual replacement by successor central banks in the mid-1950s.

The note was engraved at the Banque de France's printing works in Paris, a facility that handled much of France's colonial currency output. Régnier and Chapon were both staff engravers there, working on separate plates for obverse and reverse — a standard division of labor for the atelier, though Pierre Munier's design credit is less commonly documented for this specific series.