The koruna, or crown (sign: Kč; code: CZK, ), has been the currency of the Czech Republic since 1993. The koruna is one of the European Union's seven currencies, and the Czech Republic is legally bound to adopt the euro in the future.
The official name in Czech is (plural , though the zero-suffixed genitive plural form 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 crown is made up of 100 hellers (abbreviated as "h", official name in Czech: singular: , nominative plural: , genitive plural: – used with numbers higher or equal to 5 – e.g. ), but hellers have now been withdrawn from circulation, and the smallest unit of physical currency is 1 Kč.
History
In 1892, the Austro-Hungarian krone replaced the gulden at the rate of two kronen to one gulden (which is also the reason why the 10 Kč coin had been nicknamed or "fiver" - and has been in use in informal conversation up until nowadays). The name was suggested by the emperor, Franz Joseph I of Austria. After Austria-Hungary dissolved in 1918, Czechoslovakia was the only successor state to retain the name of its imperial-era currency. During the Second World War, the currency on the occupied Czech territory was artificially weakened. The Czechoslovak crown was restored after the war. It underwent a highly controversial monetary reform in 1953.
The Czech koruna replaced the Czechoslovak koruna in 1993 after the dissolution of Czechoslovakia. It first consisted of overstamped 20 Kčs, 50 Kčs, 100 Kčs, 500 Kčs, and 1,000 Kčs banknotes, and 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. 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. 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".
Euro adoption discussion
The Czech Republic planned to adopt the euro in 2010, but its government suspended that plan indefinitely in 2005. Although the country is economically well positioned to adopt the euro, there is considerable opposition to the move within the Czech Republic. According to a survey conducted in April 2014, only 16% of the Czech population was in favour of replacing the koruna with the euro. As reported by an April 2018 survey by CVVM (Public Opinion Research Center), this value remained at nearly identical levels between 2014-18, with only 20% of the Czech population above 15 years old supporting euro adoption.
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 (h), 1 Kč, 2 Kč, 5 Kč, 10 Kč, 20 Kč and 50 Kč. The 10 h and 20 h coins were taken out of circulation by 31 October 2003 and the 50 h coins by 31 August 2008 due to their diminishing purchasing power and circulation. 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 cash transactions are made, the amount is rounded to the nearest integer.
In 2000, the 10 Kč and 20 Kč 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 Kč and 50 Kč coins were designed by (1934–2007).
Since 1997, sets for collectors have also been issued yearly with proof-quality coins. In addition, there is 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.
Current series
{|class="wikitable" style="margin:auto; font-size:90%; border-width:1px;"
! colspan=12 | Current series (1993)
|-
! rowspan=2 | Image
! rowspan=2 | Value
! colspan=5 | Technical parameters
! colspan=3 | Description
! rowspan=2 | Issued<br/>from
! rowspan=2 | Withdrawal
|-
! Diameter<br/>(mm)
! Thickness<br/>(mm)
! Mass<br/>(g)
! colspan=2 | Composition
! Edge
! Obverse
! Reverse
|-
| style="background:#000; text-align:center;" | 120px
| 10 h
| align=center | 15.50
| rowspan=4 align=center | 1.70
| align=center | 0.60
| rowspan="7" style="background-color:#dcdcdc;" |
| rowspan=4 | Aluminium: 99%<br/>Magnesium: 1%
| Smooth
| rowspan=11 | Czech lion;<br/>year of issue;<br/>lettering:<br/>'
| Value; Stylized river
| 1993
| rowspan=3 | 2003
|-
| rowspan=2 style="background:#000; text-align:center;" | 120px
| rowspan=2 | 20 h
| rowspan=2 align=center | 17.00
| rowspan=2 align=center | 0.74
| rowspan=2 | Reeded
| rowspan=2 | Value; Linden leaf
| 1993
|-
| 1997
|-
| style="background:#000; text-align:center;" | 120px
| 50 h
| align=center | 19.00
| align=center | 0.90
| Interrupted<br/>reeding
| Value
| rowspan=8 | 1993
| 2008
|-
| style="background:#000; text-align:center;" | 120px
| 1 Kč
| align=center | 20.00
| rowspan=3 align=center | 1.85
| align=center | 3.60
| rowspan=3 | Nickel-plated<br/>steel
| Reeded
| Value;<br/>St. Wenceslas crown
| rowspan=7 | Current
|-
| style="background:#000; text-align:center;" | 120px
| 2 Kč
| align=center | 21.50<br/>
| align=center | 3.70
| rowspan=2 | Smooth
| Value;<br/>Great Moravian gombik
|-
| style="background:#000; text-align:center;" | 120px
| 5 Kč
| align=center | 23.00
| align=center | 4.80
| Value;<br/>Charles Bridge, Vltava,<br/>linden leaf
|-
| style="background:#000; text-align:center;" | 120px
| 10 Kč
| align=center | 24.50
| rowspan=4 align=center | 2.55
| align=center | 7.62
| style="background-color:#e0954f;"|
| Copper-plated<br/>steel
| Reeded
| Value;<br/>St. Peter and Paul<br/>cathedral, Brno
|-
| style="background:#000; text-align:center;" | 120px
| 20 Kč
| align=center | 26.00<br/>
| align=center | 8.43
| style="background-color:#ffe550;"|
| Brass-plated<br/>steel
| rowspan=3 | Smooth
| St. Wenceslas statue;<br/>Lettering:<br />'
|-
| rowspan=2 style="background:#000; text-align:center;" | 120px
| rowspan=2 | 50 Kč
| align=center | 27.50
| rowspan=2 align=center | 9.70
| style="background-color:#e0954f;"|
| Outer:<br/>Copper-plated<br/>steel
| rowspan=2 | Prague; Lettering:<br/>'
|-
| align=center | 17.00
| style="background-color:#ffe550;"|
| Inner:<br/>Brass-plated<br/>steel
|}
Circulating commemorative coins
{|class="wikitable" style="margin:auto; font-size:90%; border-width:1px;"
! colspan=11 | Circulating commemorative coins
|-
! rowspan=2 | Image
! rowspan=2 | Value
! colspan=5 | Technical parameters
! colspan=3 | Description
! rowspan=2 | Issue
|-
! Diameter<br/>(mm)
! Thickness<br/>(mm)
! Mass<br/>(g)
! colspan=2 | Composition
! Edge
! Obverse
! Reverse
|-
| align=center | 75px
| 10 Kč
| align=center | 24.50
| rowspan=8 align=center | 2.55
| align=center | 7.62
| style="background-color:#e0954f;"|
| Copper-plated<br/>steel
| Reeded
| rowspan=8 | Czech lion;<br/>year of issue;<br/>lettering:<br/>'
| Clock mechanism; value;<br/>Lettering:
| rowspan=2 | 2000
|-
| align=center | 75px
| rowspan=7 | 20 Kč
| rowspan=7 align=center | 26.00<br/>
| rowspan=7 align=center | 8.43
| rowspan=7 style="background-color:#ffe550;"|
| rowspan=7 | Brass-plated<br/>steel
| rowspan=7 | Smooth
| Astrolabe; value;<br/>Lettering:
|-
| align=center | 75px
| Edvard Beneš; value
| rowspan=3 | 2018<br/>
|-
| align=center | 75px
| Milan Rastislav Štefánik; value
|-
| align=center | 75px
| Tomáš Masaryk; value
|-
| align=center | 75px
| Alois Rašín; value
| rowspan=3 | 2019<br/>
|-
| align=center | 75px
| Karel Engliš; value
|-
| align=center | 75px
| Vilém Pospíšil; value
|-
|}
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 Kčs, 500 Kčs and 1,000 Kčs 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 Kč note replaced the adhesive stamp with a printed image of same.
A newly designed series of banknotes in denominations of 20 Kč, 50 Kč, 100 Kč, 200 Kč, 500 Kč, 1,000 Kč and 5,000 Kč were introduced later in 1993 and the designs are still in use at present – except for 20 Kč, 50 Kč and the first versions of 1,000 Kč and 5,000 Kč notes, since the security features of 1,000 Kč and 5,000 Kč notes were upgraded in the subsequent issues. These banknotes, designed by Oldřich Kulhánek, 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 colour-shifting security thread, additional watermarks and EURion constellations. The first denomination to be issued with the new features was the 2,000 Kč, followed by the 1,000 Kč in 2008, the 500 Kč and 5,000 Kč in 2009 and finally ending with the issuance of the 100 Kč and 200 Kč notes in 2018. In 2022, all older versions of the 100-2000 Kč notes without the upgraded security features were withdrawn.
Stamped series
{|class="wikitable" style="font-size: 90%"
!colspan=2| Image !!rowspan="2"| Value !!rowspan="2"| Dimensions !!rowspan="2"| Main colour !!rowspan="2"| Language !!colspan=2| Description !!colspan="3"| Date of
|-
!Obverse !! Reverse !! Obverse !! Reverse !! printing !! issue !! withdrawal
|-
!colspan="11"|Czechoslovak banknotes
|-
|align="center" bgcolor="#000000"| 1000x60px
|align="center" bgcolor="#000000"| 1000x60px
| 10 Kčs
| 133 × 67
| Brown
| Slovak
| Pavol Országh-Hviezdoslav
| Orava scene
| 1986
| rowspan="3" | 7 February 1993
| rowspan="3" | 31 July 1993
|-
|align="center" bgcolor="#000000"| 1000x60px
|align="center" bgcolor="#000000"| 1000x60px
| 20 Kčs
| 138 × 67
| Blue
| Czech
| Comenius
| Illustration related to culture and education
| 1988
|-
|align="center" bgcolor="#000000"| 1000x60px
|align="center" bgcolor="#000000"| 1000x60px
| 50 Kčs
| 143 × 67
| Red
| Slovak
| Ľudovít Štúr
| View of Bratislava with the castle (from the restaurant on the top of the pylon of the Nový Most)
| 1987
|-
!colspan="11"|Overstamped Czechoslovak banknotes
|-
|align="center" bgcolor="#000000"| 1000x60px
|align="center" bgcolor="#000000"| 1000x60px
| 100 Kč
| 165 × 81
| Green
| Czech
| Peasant and worker
| View of Prague with the castle and the Charles Bridge
| 1961
| rowspan="3" | 7 February 1993
| rowspan="3" | 31 August 1993
|-
|align="center" bgcolor="#000000"| 1000x60px
|align="center" bgcolor="#000000"| 1000x60px
| 500 Kč
| 153 × 67
| Brown
| Slovak
| Partisans of the SNP 1944
| Devín Castle
| 1973
|-
|align="center" bgcolor="#000000"| 1000x60px
|align="center" bgcolor="#000000"| 1000x60px
| 1,000 Kč
| 158 × 67
| Blue
| Czech
| Bedřich Smetana
| View of the Vltava at Vyšehrad
| 1985
|}
First series
{|class="wikitable" style="margin:auto; font-size:90%; border-width:1px;"
|-
! colspan=12 | First series (1993)
|-
! colspan=2 | Image
! rowspan=2 | Value
! rowspan=2 | Dimensions<br/>(mm)
! rowspan=2 colspan=2 | Main<br/>colour
! colspan=2 | Description
! rowspan=2 | Issue
! rowspan=2 | Withdrawn
! rowspan=2 | Lapse
|-
! Obverse
! Reverse
! Obverse
! Reverse
|-
| align=center bgcolor="#000000"| 76px
| align=center bgcolor="#000000"| 76px
| align=center| 20 Kč
| align=center| 128 × 64
| style="background:#004AAA;"|
| Blue
| Otakar I
| Ottokar's crown<br/>Golden Bull of Sicily seal
| 20 April 1994
| 31 August 2008
| 31 August 2014
|-
| align=center bgcolor="#000000" rowspan="3" | 80px
| align=center bgcolor="#000000" rowspan="3" | 80px
| align=center rowspan="3"| 50 Kč
| align=center rowspan="3"| 134 × 64
| rowspan=3 style="background:#C60045;"|
| rowspan=3 | Red
| rowspan=3 | Agnes of Bohemia
| rowspan=3 | St. Salvator's church;<br/>Convent of St. Agnes
| 6 October 1993
| 31 January 2007
| rowspan=3| 31 March 2017
|-
| 21 December 1994
| rowspan="2" | 31 March 2011
|-
| 10 September 1997
|-
| align=center bgcolor="#000000" rowspan="3" | 84px
| align=center bgcolor="#000000" rowspan="3" | 84px
| align=center rowspan="3"| 100 Kč
| align=center rowspan="3"| 140 × 69
| rowspan=3 style="background:#3A996E;"|
| rowspan=3 | Turquoise
| rowspan=3 | Charles IV
| rowspan=3 | Charles University seal
| 30 June 1993
| 31 January 2007
| rowspan=15 | Indefinite
|-
| 21 June 1995
| rowspan=2 | 1 July 2022
|-
| 15 October 1997
|-
| align=center bgcolor="#000000" rowspan="3" | 88px
| align=center bgcolor="#000000" rowspan="3" | 88px
| align=center rowspan="3"| 200 Kč
| align=center rowspan="3"| 146 × 69
| rowspan=3 style="background:#F46600;"|
| rowspan=3 | Orange
| rowspan=3 | John Amos Comenius
| rowspan=3 | Orbis Pictus;<br/>Joined hands
| 8 February 1993
| 31 January 2007
|-
| 14 August 1996
| rowspan=2 | 1 July 2022
|-
| align=center bgcolor="#000000" | 88px
| align=center bgcolor="#000000" | 88px
| align=center| 200 Kč
| align=center| 146 × 69
| style="background:#F46600;"|
| Orange
| John Amos Comenius
| Orbis Pictus<br/>Joined hands
|-
| align=center bgcolor="#000000" | 92px
| align=center bgcolor="#000000" | 92px
| align=center| 500 Kč
| align=center| 152 × 69
| style="background:#A34C39;"|
| Brown
| Božena Němcová
| Laureate woman
| 1 April 2009
|-
| align=center bgcolor="#000000" | 96px
| align=center bgcolor="#000000" | 96px
| align=center| 1000 Kč
| align=center| 158 × 74
| style="background:#A803A5;"|
| Violet
| František Palacký
| Archbishop's Castle,<br/>Kroměříž; eagle
| 1 April 2008
|-
| align=center bgcolor="#000000" | 100px
| align=center bgcolor="#000000" | 100px
| align=center| 2000 Kč
| align=center| 164 × 74
| style="background:#0C9900;"|
| Green
| Emmy Destinn
| Euterpe;<br/>violin and cello
| 2 July 2007
|-
| rowspan=2 align=center bgcolor="#000000" | 104px
| rowspan=2 align=center bgcolor="#000000" | 104px
| rowspan=2 align=center| 5000 Kč
| rowspan=2 align=center| 170 × 74
| rowspan=2 style="background:#687989;"|
| rowspan=2 | Grey
| rowspan=2 | Tomáš Masaryk
| rowspan=2 | St. Vitus Cathedral;<br/>Gothic and Baroque<br/>buildings, Prague
| 1 December 2009
|-
| 23 October 2023
|-
| colspan=10 |
|}
Commemorative series
{|class="wikitable" style="margin:auto; font-size:90%; border-width:1px;"
|-
! colspan=10 | Commemorative banknotes
|-
! colspan=2 | Image
! rowspan=2 | Value
! rowspan=2 | Dimensions<br/>(mm)
! rowspan=2 colspan=2 | Main<br/>colour
! colspan=2 | Description
! rowspan=2 | Issue
|-
! Obverse
! Reverse
! Obverse
! Reverse
|-
|align="center" bgcolor="#000000"| 98px
|align="center" bgcolor="#000000"| 98px
| align=center| 100 Kč
| align=center| 140 × 69
| style="background:#3A996E;"|
| Turquoise
| Charles IV<br/>overprint on watermark area
| Charles University seal
| 30 January 2019
|-
| align=center bgcolor="#000000"| 104px
| align=center bgcolor="#000000"| 104px
| align=center| 100 Kč
| align=center| 194 × 84
| style="background:#EAAB46;"|
| Gold
| Alois Rašín
| Czech National Bank building
| 31 January 2019
|-
| align=center bgcolor="#000000"| 104px
| align=center bgcolor="#000000"| 104px
| align=center| 100 Kč
| align=center| 194 × 84
| style="background:#448942;"|
| Olive green
| Karel Engliš
| Clam-Gallas Palace
| 30 March 2022
|-
| align=center bgcolor="#000000" |
| align=center bgcolor="#000000" | 96px
| align=center| 1000 Kč
| align=center| 158 × 74
| style="background:#A803A5;"|
| Violet
| František Palacký,<br/>overprint on watermark area
| Archbishop's Castle,<br/>Kroměříž; eagle
| 8 February 2023
|-
|colspan="10"|
|}
Exchange rates
Historic rates
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thumb|400px|EUR–CZK exchange rate since 1999
The currency had a record exchange rate run in 2008.
{| class="wikitable" style="text-align:right"
|+Most traded currencies (since 31 December 2008)
!Year
! US dollar
! Euro
! Sterling
! Swiss franc
! Yen
|-
|2008
| 19.346
| 26.930
| 28.270
| 18.132
| 0.21348
|-
|2009
| 18.368
| 26.465
| 29.798
| 17.837
| 0.19875
|-
|2010
| 18.751
| 25.060
| 29.108
| 20.043
| 0.23058
|-
|2011
| 19.940
| 25.800
| 30.886
| 21.220
| 0.25754
|-
|2012
| 19.055
| 25.140
| 30.812
| 20.831
| 0.22130
|-
|2013
| 19.894
| 27.425
| 32.911
| 22.344
| 0.18957
|-
|2014
| 22.834
| 27.725
| 35.591
| 23.058
| 0.19090
|-
|2015
| 24.824
| 27.025
| 36.822
| 24.930
| 0.20619
|-
|2016
| 25.639
| 27.020
| 31.586
| 25.166
| 0.21907
|-
|2017
| 21.291
| 25.540
| 28.786
| 21.824
| 0.18915
|-
|2018
| 22.466
| 25.725
| 28.762
| 22.827
| 0.20447
|-
|2019
| 22.621
| 25.410
| 29.866
| 23.416
| 0.20844
|-
|2020
| 21.381
| 26.245
| 29.190
| 24.298
| 0.20747
|-
|2021
| 21.951
| 24.860
| 29.585
| 24.066
| 0.19069
|-
|2022
| 22.616
| 24.115
| 27.200
| 24.496
| 0.17152
|-
|2023
| 22.376
| 24.725
| 28.447
| 26.688
| 0.15811
|-
|2024
| 24.237
| 25.185
| 30.378
| 26.768
| 0.15449
|-
| colspan="6" style="text-align: center;" | Source: Czech National Bank exchange rates
|}
Current rates
See also
- Bohemia and Moravia crown
- Commemorative coins of the Czech Republic
- Czech Republic and the euro
- Czechoslovak crown
- Economy of the Czech Republic
- Slovak crown
References
External links
- Czech banknotes, Czech National Bank
- Czech coins, Czech National Bank
- Czech banknotes (catalog, gallery and other details, history)