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20 000 Roubles

Issuer National Bank of the Republic of Belarus
Year 1994
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In circulation to 31 December 2003
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Reverse description The right half of the note is dominated by a large oval guilloche medallion enclosing a blue-tinted vignette of the Pahonia — an armoured knight on horseback bearing a sword and shield — the historic coat of arms of Belarus. The denomination 20000 is printed twice in blue numerals below the medallion and flanking the design, while the Belarusian text denomination runs across the top of the note. A small guilloche rosette occupies the lower left corner, and an anti-counterfeiting legend is set in small type at the upper left.
Reverse lettering ПАДРОБКА РАЗЛІКОВЫХ БІЛЕТАЎ НАЦЫЯНАЛЬНАГА БАНКА БЕЛАРУСІ ПРАСЛЕДУЕЦЦА ПА ЗАКОНУ
ДВАЦЦАЦЬ ТЫСЯЧ РУБЛЁЎ
20 000
(Translation: Forgery of banknotes of the National Bank of Belarus is prosecuted by law, Twenty Thousand Rubles)
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Belarus issued this denomination as part of its first independent currency series, introduced after the Soviet rouble ceased to function as a viable medium of exchange. The 1994 notes were printed in relatively modest quantities by post-Soviet standards — 12.175 million for this value — reflecting both the instability of the period and the practical difficulty of calibrating supply against hyperinflationary demand.

The watermark is the sole security feature, which tells you something about the procurement constraints the newly independent National Bank was working under.

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