Face:

Vietnamese woman; denomination;

Text:

BANQUE DE L'INDOCHINE = Bank of Indochina;
L'ART. 139 DU CODE PÉNAL PUNIT DES TRAVAUX FORCÉS CEUX QUI AURONT CONTREFAIT OU FALSIFIÉ LES BILLETS DE BANQUES AUTORISÉES PAR LA LOI
= Art. 139 of Penal Code punishes with the forced labour those who counterfeits or falsifies the bills of the banks authorized by the Law;
UNE PIASTRE = One piastre;
LE PRÉSIDENT = President
[signature: René Thion de la Chaume (on P-52/P-54a) or Marcel Borduge (on P-54b)];
LE DIRECTEUR GÉNÉRAL = General Director
[signature: Paul Baudouin];
SÉB. LAURENT FEC. [designer: Sébastien Laurent]; HOURRIEZ SC. [engraver: Georges Hourriez];

Back:

Vietnamese boy carrying coconuts; denomination;

Text:

東方滙理銀行 = Bank of Indochina;
GIẤY MỘT ĐỒNG VÀNG = Banknote one piastre gold;
壹元 = ១ រៀល = ໑ ຫຼຽญ (except P-52) = 1 piastre;
SÉB. LAURENT FEC. [designer: Sébastien Laurent]; HOURRIEZ SC. [engraver: Georges Hourriez];

Watermark:

Mercury head