Obverse
Portrait of Jose Rizal "Republika ng Pilipinas" "Ang salaping papel na ito ay isang bayarin ng Bangko Sentral at lubos na pinananagutan ng pamahalaan ng Republika ng Pilipinas" "Ang papel na ito ay salaping umiiral sa Pilipinas at pambayad sa lahat ng uri ng pagkakautang" "Dalawang Piso"
Reverse
Declaration of Philippine Independence on "Pahayag ng Kasarinlan ng Pilipinas noong " (Balkonahe ng Mansiyong Aguinaldo)
Security Features
Portrait watermark that can be seen when viewed against the light. Broken security thread arranged in a vertical line. Red and blue visible fibers all over the note and invisible fluorescent printing
Remarks
After , this banknote was considered demonetized pursuant to CBP Circular No. 1326 dated