10 Pesos

The Iloilo Currency Committee notes of 1943 were emergency issues produced under Japanese occupation, authorized by local Filipino officials attempting to maintain some functional currency supply as Japanese Military Administration pesos flooded — and rapidly destabilized — the local economy. The Philippine National Bank's Iloilo branch served as the nominal issuing authority, though by this point the bank's normal operations had been severely disrupted.

These provincial guerrilla-adjacent emergency issues were printed locally with whatever materials were available, which accounts for the considerable variation in paper quality and impression sharpness seen across surviving examples. Japanese authorities considered such notes illegal tender.