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Currency of the philippine republic of 1946

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Minerva Aquinde

on 14 December 2014

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Transcript of Currency of the philippine republic of 1946

The Central bank was established bringing with it a new monetary policy called the
Managed Currency System.
Managed Currency System
This policy freed the existing system from the rigidity of gold and silver standards which, in the past was the basis issuance of money.
Victory Certificates
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 purportedly carrying some of these in his pocket. They definitely brought many crates full of these notes with them during this landing.
According to a BEP report the number 66 (for the series) was chosen because that was President Quezons age when he died just prior to the liberation of the Philippines.
VICTORY notes were printed at the U.S. BUREAU of Engraving and Printing- the last Philippine currency printed by the US. Replacement notes are indicated by a star prefix to the serial number.
Thank you!
July 4, 1946
On July 4, 1946, representatives of the United States of America and of the Republic of the Philippines signed a Treaty of General Relations between the two governments. The treaty provided for the recognition of the
independence of the Republic of the Philippines
as of July 4, 1946, and the relinquishment of American sovereignty over the Philippine Islands.
This plant is capable of producing 384 million bank notes and 120 million coins a year.
The amount of nearly 5.5 million dollars yearly can saves our economy, which would have been spent for com-missioning foreign minters and printers to produce our currency.
The plant is the concrete symbol of our efforts towards self-reliance.
Currency of the philippine republic of 1946
1957, 1961 and 1967
The central bank's first issue were notes in one, two , five, ten, twenty, fifty, one hundred, two hundred and five hundred peso bills were withdrawn from circulation in 1957. The rest of the bills were printed until 1961. And in 1967 President Marcos withdrew them from circulation.
This notes were still in used until july 30, 1964
The Central Bank also issued notes in five, ten, twenty and fifty centavo denomination. These bills were made to replace the worn out coins minted during the american occupation.
The coins were minted the United States till 1963, and in England and West Germany from 1966.
On August 27, 1975
The Presidential Decree No. 783 amending Presidential Decree No. 484 authorized the establishment of the Security Printing Plant, Mint and Gold Refinery of Central Bank.
This complex was finally introduce on
Sept 7, 1978.
Money Factory
is responsible for printing bank notes and other security instruments like checks, minting coins and refining gold and silver.
November 1977
Mint started producing coins.
January 1978
Started pruducing Bank notes
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