20 Latu

This note was issued in the final year of independent Latvia before Soviet occupation in June 1940 effectively ended the State Treasury's authority to issue currency. The timing means surviving examples could have entered circulation for only a matter of months before political collapse rendered the entire series obsolete.

The Valsts papīru spiestuve un naudas kaltuve had operated continuously since 1919, giving Latvia one of the few interwar Baltic states to print its own notes domestically throughout its independence. That in-house printing tradition ended abruptly with occupation.