When the peso oro was first introduced as a local coinage in 1937, no paper money was made and US notes continued to circulate as the U.S. dollar was officially the national currency. Only in 1947 were the first peso oro notes issued by the Central Bank in denominations of 1, 5, 10, 20, 50, 500, and 1000 oros, though the latter two denominations were rarely used. These notes were printed by the American Bank Note Company, a private printing and engraving firm. Though US notes were always acceptable in exchange, they were gradually withdrawn from circulation. In 1961, low value notes were issued in denominations of 10, 25 and 50 centavos to help compensate for the value of silver in coins surpassing face value and the resulting coin shortages. Following the demise of Trujillo all banknotes afterwards dropped references to the capital city Ciudad Trujillo which had reverted to its old name, Santo Domingo.