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Czech koruna
koruna česká  ("Czech)
""CZK Banknotes 2014.png
koruna banknotes as of 2014
"ISO 4217
Code CZK
Denominations
Subunit
1100 haléř (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. used 100, 200, 500, 1000, 2000 Kč
 Rarely used 5000 Kč
Coins
 Freq. used 1, 2, 5, 10, 20, 50 Kč
Demographics
User(s)  "Czech Republic
Issuance
"Central bank "Czech National Bank
 Website www.cnb.cz
Valuation
"Inflation 2.5%
 Source Czech Statistical Office, February 2017
 Method "CPI

The koruna ("sign: ; "code: CZK) is the currency of the "Czech Republic since 1993, and in English it is sometimes referred to as Czech crown. The koruna is one of "European Union's 11 currencies, and the Czech Republic is legally bound to "adopt the euro currency in the future.

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"genitive "plural: haléřů – used with numbers higher or equal to 5 – e.g. 3 haléře, 8 haléřů), but haléře have been withdrawn, and the smallest unit of physical currency is 1 Kč.

Contents

History[edit]

""

In 1892, the "Austro-Hungarian krone replaced the "gulden, at the rate of 1 gulden equaling 2 kronen (which is also the reason why the 10-koruna coin is still nicknamed "pětka" or "the five" by the Czechs). 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) has intervened to weaken the exchange rate of the koruna through a "monetary stimulus in order to stop the currency from excessive strengthening.[1] 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 on 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[edit]

""
""
EUR–CZK exchange rate since 1999

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 2016 survey by CVVM (Public Opinion Research Center), this value has remained at nearly identical levels over the past two years, with merely 17% of the Czech population above 15 years old supporting euro adoption.[8]

Coins[edit]

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 were withdrawn from circulation on 31 August 2008 due to their diminishing purchasing power and circulation.[9]

In 2000, the 10 and 20 korun coins were minted with different obverses to commemorate the "Millennium. In 1993 & 1994 coins were minted in "Winnipeg and "Hamburg, then in the Czech Republic. All circulation coins were designed by Ladislav Kozak (1934–2007).

Since 1997, sets for collectors are also issued yearly with proof quality coins. There's also a tradition 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]
Image Value Technical parameters Description Date of
Diameter Thickness Mass Composition Edge Obverse Reverse first minting issue withdrawal
""10h CZK.png 10 h 15.5 mm 1.7 mm 0.6 g 99% aluminium
1% "magnesium
Plain "ČESKÁ REPUBLIKA", the "Czech lion, year of minting Value, stylized river 1993 1993 2003
""20h CZK.png 20 h 17 mm 0.74 g Milled Value, "linden leaf 1993 1993 2003
""50h CZK.png 50 h 19 mm 0.9 g Alternately plain and milled Value 1993 1993 2008
""1 CZK.png 1 Kč 20 mm 1.85 mm 3.6 g "Nickel plated steel Milled Value, "St. Wenceslas crown 1993 1993 Current
""2 CZK.png 2 Kč 21.5 mm,
"11-sided
3.7 g Rounded, plain Value, a "Great Moravian button-jewel 1993 1993 Current
""5 CZK.png 5 Kč 23 mm 4.8 g Plain Value, "Charles Bridge, "Vltava, linden leaf 1993 1993 Current
""10 CZK.png 10 Kč 24.5 mm 2.55 mm 7.62 g Copper plated steel Milled Value, "Cathedral of St. Peter and Paul at Petrov monument in "Brno 1993 1993 Current
""20 CZK.png 20 Kč 26 mm,
"13-sided
8.43 g "Brass plated steel Rounded, plain Value, the "St. Wenceslas monument on "Wenceslas Square, inscription from the monument: "SVATÝ VÁCLAVE NEDEJ ZAHYNOUT NÁM I BUDOUCÍM" 1993 1993 Current
""50 CZK.png 50 Kč 27.5 mm
center: 17 mm
9.7 g Ring: copper plated steel
Center: "brass plated steel
Plain "PRAGA MATER URBIUM" ("Prague, the Mother of Towns"), view of "Prague 1993 1993 Current

Banknotes[edit]

The first Czech banknotes issued on 8 February 1993 consisted of Czechoslovak notes with adhesive stamps affixed to them. Only the 100-, 500- and 1,000-korun denominations 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 of denominations 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 2000 korun note, which has been 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.

Stamped Czechoslovak banknotes[edit]

Value Dimensions Main Colour Language Description Date of
Obverse Reverse printing issue withdrawal
Czechoslovak banknotes
10 Kčs 133 × 67 mm Brown "Slovak "Pavol Országh-Hviezdoslav "Orava scene 1986 7 February 1993 31 July 1993
20 Kčs 138 × 67 mm Blue "Czech "Comenius Illustration related to culture and education 1988 7 February 1993 31 July 1993
50 Kčs 143 × 67 mm Red "Slovak "Ľudovít Štúr View of "Bratislava with the "castle (from the restaurant on the top of the pylon of the "Nový Most) 1987 7 February 1993 31 July 1993
Overstamped Czechoslovak banknotes
100 Kč 165 × 81 mm Green "Czech Peasant couple View of "Prague with the "castle and the "Charles Bridge 1961 7 February 1993 31 August 1993
500 Kč 153 × 67 mm Brown "Slovak "Partisans of the "SNP 1944 "Devín Castle 1973 7 February 1993 31 August 1993
1,000 Kč 158 × 67 mm Blue "Czech "Bedřich Smetana View of the "Vltava at "Vyšehrad 1985 7 February 1993 31 August 1993

Original Czech banknotes[edit]

The "Greater coat of arms of the Czech Republic can be found on the reverse side of all denominations.["citation needed]

Value Dimensions Main Colour Description Date of
Obverse Reverse printing issue withdrawal lapse
First original (second 1993) series
20 Kč 128 × 64 mm Blue "Přemysl Otakar I and his seal Crown 1994 20 April 1994 31 August 2008 31 August 2014[12]
50 Kč 134 × 64 mm Red "Saint Agnes of Bohemia and the "Sacred Heart St. Salvator's Church ceiling (part of Convent of St. Agnes of Bohemia in Prague) and ornamental letter A 1993 6 October 1993 31 January 2007 31 March 2017[13]
1994 21 December 1994 31 March 2011
1997 10 September 1997 31 March 2011
100 Kč 140 × 69 mm Green, pink "Charles IV Seal of "Charles University 1993 30 June 1993 31 January 2007 until further notice
1995 21 June 1995 current
1997 15 October 1997 current
200 Kč 146 × 69 mm Brown, orange "John Amos Comenius "Orbis Pictus, an adult's hand passing to a child's hand 1993 8 February 1993 31 January 2007 until further notice
1996 14 August 1996 current
1998 6 January 1999 current
500 Kč 152 × 69 mm Brown, pink "Božena Němcová and rose Laureate woman symbolizing all woman characters in Němcová's books 1993 21 July 1993 31 January 2007 until further notice
1995 27 December 1995 current
1997 18 March 1998 current
2009 1 April 2009 current
1,000 Kč 158 × 74 mm Violet "František Palacký, uprooted tree Eagle spread its wings over the "Archbishop's Castle in Kroměříž, where a constitution preparing parliament of Austrian Empire was held in 1848 1993 12 May 1993 30 June 2001 until further notice
1996 6 December 1996 current
2008 1 April 2008 current
2,000 Kč 164 × 74 mm Green "Emmy Destinn "Euterpe and musical motifs like violin 1996 1 October 1996 current
1999 1 December 1999 current
2007 2 July 2007 current
5,000 Kč 170 × 74 mm Dark blue, violet "Tomáš Garrigue Masaryk "Gothic and "Baroque buildings in "Prague, in centre dominating "St. Vitus Cathedral 1993 15 December 1993 30 June 2001 until further notice
1999 8 September 1999 current
2009 1 December 2009 current

Current exchange rates[edit]

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: 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

The currency was on a record "exchange rate run in 2008.[14]

Historic rates[edit]

See also[edit]

References[edit]

External links[edit]

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