Philippines Emergency Currency : 20 pesos note

Philippines Emergency Currency 20 pesos note, series 1943, serial no. AA68989. The note is uncirculated but has a central vertical fold mark.

Philippine Emergency Currency. Prior to his exile in 1942, Philippines President Manuel Luis Quezon authorised the creation of Provincial Emergency Currency Boards and Committees with the power to issue currency which would be redeemable after the war. Initially this practice was limited to the unoccupied provinces, but later, other territories released their own currency. As well as the Philippine municipal governments, the guerrilla forces fighting the Japanese occupation also issued currency. Although the Japanese severely punished holders of such currency, the notes continued to circulate. This note was issued by Mindanao province.