50 Centavos

The Iloilo Currency Committee notes of 1944 were emergency issues produced during the Japanese occupation, authorized locally to address the near-total collapse of usable currency in the Visayas. The Philippine National Bank's nominal co-sponsorship lent these notes a veneer of institutional legitimacy, but real backing was essentially nonexistent — the committee was working with whatever paper and printing resources survived the occupation.

Locally printed emergency fractional notes from this period are among the more fragile survivors of wartime Philippine numismatics. Paper quality was inconsistent, and many did not last long in circulation.