1 Peso

The Iloilo Currency Committee was one of several provincial emergency currency authorities that operated in the Visayas under Japanese occupation, issuing notes to address the near-total collapse of ordinary monetary supply. This particular 1 Peso note (P#S339) belongs to a guerrilla or semi-official series rather than a Japanese military administration issue — the Philippine National Bank name was retained as a legitimizing device by local committees trying to maintain some economic order behind enemy lines.

Printing was improvised. Paper quality, ink consistency, and serial numbering on these Iloilo issues vary considerably within the same series, a direct result of wartime production constraints.