5 Francs

Banque de l'Indo-Chine occupied a peculiar position in French colonial finance — it was a privately held bank granted public powers, issuing currency across Indochina, New Caledonia, and French Pacific territories simultaneously. The piastre dominated Indochina in practice, but this 5-franc denomination circulated primarily in the Pacific island territories where French franc-denominated notes were the norm.

Walhain designed and Deloche engraved through the Banque de France's own ateliers, giving the note a quality of execution more associated with metropolitan French issues than colonial printing. Two distinct presidential signature combinations appear across the issue dates — Thion de la Chaume paired with Baudouin first, then Borduge replacing him — making the signature block the primary dating tool for specialists.