1 Peso

The Iloilo Currency Committee was one of several provincial emergency authorities that scrambled to produce local currency in the immediate aftermath of the Japanese invasion in December 1941. With the Philippine National Bank's Manila operations disrupted and regular note supply cut off, regional committees issued their own obligations to keep commerce functional. Iloilo's notes were printed locally — a fact reflected in their sometimes inconsistent impression quality.

These emergency issues circulated only briefly before Japanese forces occupied the Visayas in 1942, at which point the Japanese Military Administration invalidated all Commonwealth-era currency. Most surviving examples show hard use in that compressed window.