20 Pesos

The Negros Emergency Currency Board was one of several provincial guerrilla currency authorities that operated in the Philippine islands during the Japanese occupation. These boards issued notes under American military sanction to sustain local economies and, critically, to pay guerrilla forces loyal to MacArthur's command. The Negros issues are among the better-documented of the provincial series, but survival rates vary sharply — notes that circulated in the field suffered from tropical humidity, and many were deliberately destroyed before Japanese capture to avoid reprisals.

The 1945 date places this note in the final months of occupation, when Japanese control of Negros Occidental was already collapsing under Allied pressure.