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20 Lei

Issuer Banca Națională a Moldovei
Year 2015
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Composition Cotton paper
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Obverse description Log in to see details
Obverse lettering REPUBLICA MOLDOVA
ȘTEFAN CEL MARE
BNM
GUVERNATOR, D. Drăguțanu
PE-UN PICIOR DE PLAI, PE-O GURĂ DE RAI...
FALSIFICAREA ACESTOR BILETE SE PEDEPSEȘTE CONFORM LEGILOR
20
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Protection description The watermark is placed in the right blank margin of the banknote and reproduces the portrait of Ştefan cel Mare oriented toward the centre of the note; it is visible only when held up to the light.
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Comments

Moldova's 20 Lei series has been in continuous production across multiple print runs since the early 1990s, with this 2015 date representing one of the later issues in an unusually long-lived denomination. The Banque de France facility at Chamalières has printed several Moldovan issues over the years, a relationship that reflects the limited options available to small post-Soviet central banks seeking secure production outside former Soviet printing infrastructure.

The security specification on this note is notably lean — watermark only, at a point when most contemporary issues from comparable economies had moved to at least windowed thread. Worth knowing for authentication purposes.

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