1 Peso

The Negros Emergency Currency Board was one of several provincial bodies that issued guerrilla currency in the Philippines during the Japanese occupation, authorized under the civil government-in-exile framework backed by the Commonwealth. These notes were not informal scrip — they carried legal tender status within their respective jurisdictions and were used to pay soldiers, buy supplies, and sustain civilian administration while the Japanese military peso was simultaneously being forced into circulation by the occupation authorities.

The 1945 date places this note in the final phase of that parallel economy, issued as MacArthur's return campaign was already underway in the archipelago.