5 Centavos

The Leyte Emergency Currency Board was one of several provincial boards authorized under the Philippine Commonwealth government's emergency currency program following the Japanese invasion in late 1941. As banking infrastructure collapsed and Japanese-issued military pesos flooded the archipelago, local boards printed their own notes to keep civilian commerce functional in guerrilla-held or transitional zones. Leyte's issues are among the better-documented provincial emergencies, with Tacloban serving as the administrative hub before Japanese forces took the city in May 1942.

Quintin Paredes, Jr. — son of the prominent Philippine statesman Quintin Paredes Sr. — appears here in a junior administrative capacity, one of the few signatures on Philippine emergency currency with a verifiable family political connection.