20 Centavos

Municipal emergency currency issued during the Japanese occupation of the Philippines. When the Japanese Military Administration's own occupation pesos lost purchasing power rapidly, many towns across the Visayas authorized their own scrip to keep local markets functioning. Loay, a small coastal municipality on Bohol's southern shore, was among dozens of barangay-level and municipal issuers who stepped in — most operating without any formal banking infrastructure whatsoever.

Bohol municipal scrip from 1943 is poorly documented, and survival rates are low. Notes were printed locally under wartime scarcity on whatever paper was available.