A history of WWII Philippines currency
Republic Act No.265 created the Central Bank of the Philippines (CBP) on January 3, 1949, which was vested the power of administering the banking & credit system of the country. Initially, the CBP issued the Victory Notes with the overprint (in red ink) “Central Bank of the Philippines ” in 1949. The first official banknotes…
The ‘Victory’ note series was printed in 1944, to be used upon the return of MacArthur. When he came ashore in Leyte on Oct. 20th, 1944, he was supposedly carrying some of these in his pocket, and many crates full of these notes were brought with them during this landing. According to a BEP report…