50 Pesos

The Iloilo Currency Committee was one of several regional emergency bodies that issued notes during the Japanese occupation, operating under the umbrella of the Philippine National Bank but functionally independent in practice. These provincial wartime issues were produced locally with whatever printing resources remained available — which is exactly why the typography and paper quality vary so noticeably across the series.

Most were demonetized, confiscated, or simply destroyed as the occupation tightened its grip on the Visayas. Survivors are almost always heavily circulated; the Iloilo issues saw real use before they disappeared.