20 Pesos

The Iloilo Currency Committee was one of several provincial emergency currency authorities that scrambled to issue notes in the weeks following the Japanese invasion, before Manila fell in January 1942. Philippine National Bank branches supplied the institutional framework — and in some cases the pre-printed stock — but the actual authorization and overprinting was handled locally, giving this series a distinctly ad hoc character that shows in the inconsistencies between surviving specimens.

Iloilo City itself fell to Japanese forces in April 1942, which imposed a hard ceiling on how long these notes could have circulated under their intended authority. Most emergency Visayan issues were demonetized or simply abandoned in place.