Czech koruna

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Czech koruna
koruna česká  (Czech)
CZK Banknotes 2014.png 50 CZK.png
Koruna banknotes50 Kč coin
ISO 4217
CodeCZK
Number203
Exponent2
Denominations
Subunit
1100haléř (defunct)
Plural The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms.
Symbol
haléř (defunct)h
Banknotes
Freq. used100, 200, 500, 1000, 2000 Kč
Rarely used5000 Kč
Coins 1, 2, 5, 10, 20, 50 Kč
Demographics
User(s)Flag of the Czech Republic.svg  Czech Republic
Issuance
Central bank Czech National Bank
Website www.cnb.cz
Mint Česká mincovna
Website ceskamincovna.cz
Valuation
Inflation 2.1%
Source Czech Statistical Office, February 2021
Method CPI

Czech koruna, also known as Czech Crown, (sign: ; code: CZK, Czech: koruna česká) has been the currency of the Czech Republic since 1993. The koruna is one of the European Union's 11 currencies, and the Czech Republic is legally bound to adopt the euro currency in the future.

Contents

The official name in Czech is koruna česká (plural koruny české, though the zero-grade genitive plural form korun českých is used on banknotes and coins of value 5 Kč or higher). The ISO 4217 code is CZK and the local acronym is Kč, which is placed after the numeric value (e.g., "50 Kč") or sometimes before it (as is seen on the 10-koruna coin). One koruna equals 100 haléřů (abbreviated as "h", singular: haléř, nominative plural: haléře, genitive plural: haléřů – used with numbers higher or equal to 5 – e.g. 3 haléře, 8 haléřů), but haléře have been withdrawn, and the smallest unit of physical currency is 1 Kč. Despite its withdrawal haléře are still present in prices of various products, but are rounded to koruna at checkout.

History

In 1892, the Austro-Hungarian krone replaced the gulden, at the rate of one gulden equaling two kronen (which is also the reason why the 10-koruna coin had been nicknamed pětka or "the five" - and has been in use in informal conversation up until nowadays). The name "krone" was invented by the emperor, Franz Joseph I of Austria. After Austria-Hungary dissolved in 1918, the only successor state that kept the name of the currency, the koruna, was Czechoslovakia. In the late 1920s, the Czechoslovak koruna was the hardest currency in Europe. During the Second World War, the currency on the occupied Czech territory was artificially weakened. The Czechoslovak koruna was restored after the war. It underwent a highly controversial monetary reform in 1953.

The Czech koruna replaced the Czechoslovak koruna when it was introduced in 1993 after the dissolution of Czechoslovakia. It first consisted of overstamped 20-, 50-, 100-, 500-, and 1000-Czechoslovak koruna banknotes, but a new series was properly introduced in 1993.

In November 2013, the Czech National Bank (ČNB) intervened to weaken the exchange rate of the koruna through a monetary stimulus to stop the currency from excessive strengthening. [1] This was meant to support the Czech economy, mainly focused on export, but people were unhappy about this step because it was set up before Christmas, which led to raising the prices of imported goods. In late 2016, the ČNB stated that the return to conventional monetary policy was planned for mid-2017. [2] [3] After higher-than-expected inflation and other figures, the national bank removed the cap at a special monetary meeting on April 6, 2017. The koruna avoided significant volatility and City Index Group stated: "If you want to drop a currency peg, then the ČNB can show you how to do it". [4]

Euro adoption discussion

The Czech Republic planned to adopt the euro in 2010, but its government suspended that plan indefinitely in 2005. [5] Although the country is economically well positioned to adopt the euro, there is considerable opposition to the move within the Czech Republic. [6] According to a survey conducted in April 2014, only 16% of the Czech population was in favour of replacing the koruna with the euro. [7] As reported by an April 2018 survey by CVVM (Public Opinion Research Center), this value has remained at nearly identical levels over the past four years, with only 20% of the Czech population above 15 years old supporting euro adoption. [8]

Coins

The coins of the Czech koruna increase in size and weight with value.

In 1993, coins were introduced in denominations of 10, 20 and 50 haléřů, 1, 2, 5, 10, 20 and 50 korun. The 10- and 20-haléřů coins were taken out of circulation by 31 October 2003 and the 50-haléřů coins by 31 August 2008 due to their diminishing purchasing power and circulation. [9] However, financial amounts are still written with the accuracy of 1-haléř (CZK 0.01); prices in retail shops are usually multiples of CZK 0.10. When transactions are made, the amount is rounded to the nearest integer.

In 2000, the 10- and 20-korun coins were minted with different obverses to commemorate the millennium. In 1993 and 1994, coins were minted in Winnipeg and Hamburg, then in the Czech Republic. The 10- and 50-korun coins were designed by Ladislav Kozák  [ cs ] (1934–2007).

Since 1997, sets for collectors are also issued yearly with proof-quality coins. Also, a tradition exists of issuing commemorative coins – including silver and gold coins – for numismatic purposes.

For a complete listing, see Commemorative coins of the Czech Republic.

Circulation coins [10]
ImageValueTechnical parametersDescriptionDate of
DiameterThicknessMassCompositionEdgeObverseReversefirst mintingissuewithdrawal
10h CZK.png 10 h15.5 mm1.7 mm0.6 g99% aluminium
1%  magnesium
Plain"ČESKÁ REPUBLIKA", the Czech lion, year of mintingValue, stylized river199319932003
20h CZK.png 20 h17 mm0.74 gMilledValue, linden leaf199319932003
50h CZK.png 50 h19 mm0.9 gAlternately plain and milledValue199319932008
1 CZK.png 1 20 mm1.85 mm3.6 g Nickel-plated steelMilledValue, St. Wenceslas crown 19931993Current
2 CZK.png 2 21.5 mm,
11-sided
3.7 gRounded, plainValue, a Great Moravian button-jewel19931993Current
5 CZK.png 5 23 mm4.8 gPlainValue, Charles Bridge, Vltava, linden leaf19931993Current
10 CZK.png 10 24.5 mm2.55 mm7.62 gCopper-plated steelMilledValue, Cathedral of St. Peter and Paul at Petrov monument in Brno 19931993Current
20 CZK.png 20 26 mm,
13-sided
8.43 g Brass-plated steelRounded, plainValue, the St. Wenceslas monument on Wenceslas Square, inscription from the monument: "SVATÝ VÁCLAVE NEDEJ ZAHYNOUT NÁM I BUDOUCÍM"19931993Current
50 CZK.png 50 27.5 mm
center: 17 mm
9.7 gOuter ring: Copper-plated steel
Center plug: Brass-plated steel
Plain"PRAGA MATER URBIUM" (Prague, the Mother of Towns), view of Prague 19931993Current

Banknotes

The first Czech banknotes were issued on 8 February 1993 and consisted of Czechoslovak notes with adhesive stamps affixed to them. Only the 100-, 500- and 1,000-korun notes were overstamped, the lower denominations circulated unchanged during this transitional period. Each stamp bears a Roman and Arabic numeral identifying the denomination of the banknote to which it is affixed (C and 100, D and 500, M and 1,000). Subsequent issues of the 1,000-korun note replaced the adhesive stamp with a printed image of same. [11]

A newly designed series of banknotes in denominations of 20-, 50-, 100-, 200-, 500-, 1,000 and 5,000-korun were introduced later in 1993 and are still in use at present – except for 20, 50 and the first versions of 1,000 and 5,000 korun notes, since the security features of 1,000 and 5,000 notes were upgraded in the subsequent issues (The 2,000 korun note, which was introduced in 1996, is still valid in all versions, with and without the new security features). These banknotes feature renowned Czech persons on the obverse and abstract compositions on the reverse. Modern protective elements can be found on all banknotes.

In 2007, the Czech National Bank started issuing new upgraded banknotes with upgraded security features. These include a new color-shifting security thread, additional watermarks and EURion constellations. The first denomination to be issued with the new features was the 2000-korun, followed by the 1000-korun in 2008, the 500 and 5000-korun in 2009 and finally ending with the issuance of the 100 and 200-korun notes in 2018.

Stamped banknotes

ImageValueDimensionsMain colourLanguageDescriptionDate of
ObverseReverseObverseReverseprintingissuewithdrawal
Czechoslovak banknotes
10 Czechoslovakan koruna 1985-1989 Issue Obverse.jpg 10 Czechoslovakan koruna 1985-1989 Issue Reverse.jpg 10 Kčs133 × 67 mmBrown Slovak Pavol Országh-Hviezdoslav Orava scene19867 February 199331 July 1993
20 Czechoslovakan koruna 1985-1989 Issue Obverse.jpg 20 Czechoslovakan koruna 1985-1989 Issue Reverse.jpg 20 Kčs138 × 67 mmBlue Czech Comenius Illustration related to culture and education19887 February 199331 July 1993
50 Czechoslovakan koruna 1985-1989 Issue Obverse.jpg 50 Czechoslovakan koruna 1985-1989 Issue Reverse.jpg 50 Kčs143 × 67 mmRed Slovak Ľudovít Štúr View of Bratislava with the castle (from the restaurant on the top of the pylon of the Nový Most)19877 February 199331 July 1993
Overstamped Czechoslovak banknotes
100 Czechoslovakan koruna 1993 Provisional Issue Obverse.jpg 100 Czechoslovakan koruna 1993 Provisional Issue Reverse.jpg 100 165 × 81 mmGreen Czech Peasant coupleView of Prague with the castle and the Charles Bridge 19617 February 199331 August 1993
500 Czechoslovakan koruna 1993 Provisional Issue Obverse.jpg 500 Czechoslovakan koruna 1993 Provisional Issue Reverse.jpg 500 153 × 67 mmBrown Slovak Partisans of the SNP 1944 Devín Castle 19737 February 199331 August 1993
1000 Czechoslovakan koruna 1993 Provisional Issue Obverse.jpg 1000 Czechoslovakan koruna 1993 Provisional Issue Reverse.jpg 1,000 158 × 67 mmBlue Czech Bedřich Smetana View of the Vltava at Vyšehrad 19857 February 199331 August 1993

Original Czech banknotes

The Greater coat of arms of the Czech Republic can be found on the reverse side of all denominations.

First original (second 1993) series
ImageValueDimensionsMain colourDescriptionDate of
ObverseReverseObverseReverseprintingissuewithdrawallapse
20CZK obverse.jpg 20 Czech koruna Reverse.jpg 20 128 × 64 mmBlue Přemysl Otakar I Ottokar's Crown and the seal of Golden Bull of Sicily199420 April 199431 August 200831 August 2014 [12]
50CZK obverse.jpg 50 Czech koruna Reverse.jpg 50 134 × 64 mmRed Saint Agnes of Bohemia St. Salvator's Church ceiling (part of Convent of St. Agnes of Bohemia in Prague) and ornamental letter A19936 October 199331 January 200731 March 2017 [13]
199421 December 199431 March 2011
199710 September 199731 March 2011
100CZK obverse.jpg 100 Czech koruna Reverse.jpg 100 140 × 69 mmGreen and pink Charles IV Seal of Charles University 199330 June 199331 January 20071 July 2022 [14]
199521 June 1995current
199715 October 1997current
200CZK obverse.jpg 200 Czech koruna Reverse.jpg 200 146 × 69 mmBrown and orange John Amos Comenius Orbis Pictus , an adult's hand passing to a child's hand19938 February 199331 January 20071 July 2022 [14]
199614 August 1996current
19986 January 1999current
500CZK obverse.jpg 500 Czech koruna Reverse.jpg 500 152 × 69 mmBrown and pink Božena Němcová Laureate woman symbolizing all woman characters in Němcová's books199321 July 199331 January 20071 July 2022 [14]
199527 December 1995current
199718 March 1998current
1000CZK obverse.jpg 1000 Czech koruna Reverse.jpg 1,000 158 × 74 mmViolet František Palacký Eagle spread its wings over the Archbishop's Castle in Kroměříž 199312 May 199330 June 20011 July 2022 [14]
19966 December 1996current
2000CZK obverse.jpg 2000 CZK reverse.jpg 2,000 164 × 74 mmGreen Emmy Destinn Euterpe and musical motifs like violin19961 October 1996current
19991 December 1999current
5000CZK obverse.jpg 5000CZK reverse.jpg 5,000 170 × 74 mmDark blue and violet Tomáš Garrigue Masaryk Gothic and Baroque buildings in Prague, in centre dominating St. Vitus Cathedral 199315 December 199330 June 20011 July 2022 [14]
19998 September 1999current

Upgraded banknotes

1993 (2007-2018) series
ImageValueDimensionsMain colourDescriptionDate of
ObverseReverseObverseReverseprintingissuewithdrawallapse
100 Czech koruna Obverse.jpg 100 Czech koruna Reverse.jpg 100 140 × 69 mmGreen and pink Charles IV Seal of Charles University 20185 September 2018 [15] current
200 Czech koruna Obverse.jpg 200 Czech koruna Reverse.jpg 200 146 × 69 mmBrown and orange John Amos Comenius Orbis Pictus , an adult's hand passing to a child's hand20185 September 2018 [15]
500 Czech koruna Obverse.jpg 500 Czech koruna Reverse.jpg 500 152 × 69 mmBrown and pink Božena Němcová Laureate woman symbolizing all woman characters in Němcová's books20091 April 2009 [16]
1000 Czech koruna Obverse.jpg 1000 Czech koruna Reverse.jpg 1,000 158 × 74 mmViolet František Palacký Eagle spread its wings over the Archbishop's Castle in Kroměříž 20081 April 2008 [17]
2000 Czech koruna Obverse.jpg 2000 Czech koruna Reverse.jpg 2,000 164 × 74 mmGreen Emmy Destinn Euterpe and musical motifs like violin20072 July 2007 [18]
5000 Czech koruna Obverse.jpg 5000 Czech koruna Reverse.jpg 5,000 170 × 74 mmDark blue and violet Tomáš Garrigue Masaryk Gothic and Baroque buildings in Prague, in centre dominating St. Vitus Cathedral 20091 December 2009 [19]

Commemorative banknotes

Commemorative banknote series [20]
ImageValueDimensionsMain colourDescriptionDate of
ObverseReverseObverseReverseprintingissuewithdrawallapse
100 CZK obverse 2019.jpg 100 CZK reverse 2019.jpg 100 Kč150 × 65 mmGold Alois Rašín Czech National Bank201931 January 2019TBD
Sto.Korun.Ceskych.S.Pretiskem.100.let.1919-2019.S.jpg 100 Kč140 × 69 mmGreen and pink Charles IV, overprint on watermark areaSeal of Charles University201930 January 2019

For the 100th anniversary of the Czechoslovak koruna, a new banknote will be created, featuring the face of Czech politician Alois Rašín. There is also an overprint on the normal 100 Korun note as second commemorative note.

Exchange rates

Historic rates

Current rates

Current CZK exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD

See also

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Czechoslovak koruna

The Czechoslovak koruna was the currency of Czechoslovakia from April 10, 1919, to March 14, 1939, and from November 1, 1945, to February 7, 1993. For a brief time in 1939 and again in 1993, it was also the currency in the separate Czech Republic and Slovakia.

Bohemian and Moravian koruna

The Bohemian and Moravian koruna, known as the Protectorate crown, was the currency of the Protectorate of Bohemia and Moravia between 1939 and 1945. It was subdivided into 100 haléřů.

The Czech National Bank issues 200 / 500 Koruna (Kč) silver commemorative coins and golden commemorative coins of various denominations. The golden coins are issued in thematic sets – Bohemian crown set, Charles IV set, Ten centuries of architecture set, Industrial Heritage Sites set and Bridges in the Czech Republic set. In 1999 the special 2000 Kč silver coin with golden inlay and hologram was issued. In 2019, to commemorate the 100th anniversary of Czechoslovak koruna, a heavyweight gold coin weighing 130 kg was issued as well as a commemorative one-hundred crown banknote.

Banknotes of the Czechoslovak koruna (1945)

In 1945, four kinds of banknotes of Czechoslovak koruna were introduced. The first were issues of Bohemia and Moravia and Slovakia, to which adhesive stamps were affixed. Denominations issued were 100, 500 and 1000 korun. The second were printed in the Soviet Union and were issued in denominations of 1, 5, 20, 100, 500 and 1000 korun. The third were locally printed notes issued by the government in denominations of 1, 5, 10, 20, 50, 100, 500, 1000 and 2000 korun. The fourth were issues of the Czechoslovak National Bank, in denominations of 1000 and 5000 korun. The National Bank issued 500 korun notes from 1946, whilst the government continued to issue notes between 5 and 100 korun, the 1 koruna note being replaced by a coin in 1946.

Banknotes of the Czechoslovak koruna (1919)

The first banknotes in First Czechoslovak Republic were issues of the Austro-Hungarian Bank to which adhesive stamps were affixed. Denominations were of 10, 20, 50, 100 and 1000 korun. Regular banknotes of Czechoslovak koruna were subsequently issued by the Republic of Czechoslovakia between 1919 and 1926, in denominations of 1, 5, 10, 20, 50, 100, 500, 1000 and 5000 korun. The Czechoslovak National Bank took over production in 1926, issuing notes for 10, 20, 50, 100, 500 and 1000 korun. The new designs were made by Alfons Mucha, one of the founders of Art Nouveau and a Slavic nationalist. The urgency of the task led him to reuse a previous portrait of Josephine Crane Bradley as Slavia for the 100 koruna bill.

Banknotes of the Czechoslovak koruna (1953)

The first banknotes of the third Czechoslovak koruna were issued by the Communist Party of Czechoslovakia in denominations of 1, 3 and 5 korun and by the State Bank in denominations of 10, 25, 50 and 100 korun (banknotes). From 1958, new 25, 10, 100 and finally 50 Kčs banknotes were designed, and the state notes were gradually replaced by coins during the 1960s. The 20 Kčs banknote was printed from 1970 to replace the 25 Kčs note. The 500 Kčs banknote appeared in 1973. Starting with the 1000 Kčs banknote in 1985, a new, more uniform series was issued adding a new denomination each year. This process was interrupted by the fall of the communism : the new 100 Kčs note issued in 1989 depicted Klement Gottwald, a prominent communist and was quickly withdrawn after the Velvet Revolution. A new 500 Kčs banknote was never issued.

Vladimír Oppl

Vladimír Oppl is a Czech academic sculptor and medalist. His best-known designs include the Tomáš Garrigue Masaryk Order, the Czech circulating fifty-heller and the Czech circulating twenty-crown. He is also the author of the commemorative coin Nové Město Pražské from the set of Charles IV, which was awarded the Most Beautiful Gold Coin of the World (2001) at the turn of the millennium.

Slovak koruna (1939–1945)

The Slovak koruna or Slovak crown was the currency of the Nazi-era Slovak Republic between 1939 and 1945. The Slovak koruna replaced the Czechoslovak koruna at par and was replaced by the reconstituted Czechoslovak koruna, again at par.

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