25 Bani BGR - German Occupation

Banca Generala Română was not a Romanian institution in any meaningful sense — it was a German-controlled bank established in Bucharest after the Central Powers occupied roughly two-thirds of Romania in late 1916, including the capital. The occupation administration needed small-denomination currency to function, and this note was among the first instruments that bank produced to fill the void left by the retreating Romanian government, which had relocated to Iași along with the National Bank's reserves.

The print run of over twelve million for a single low-denomination note reflects the scale of the replacement currency operation — not casual issue. Forgeries of the occupation series were reported even during the war itself.