Czech Koruna CZK: History, Usage, and Conversion

The Czech Koruna CZK has a rich history dating back to 1993, when it replaced the Czechoslovak koruna.

It's the official currency of the Czech Republic and is widely accepted in the country.

The koruna is divided into 100 haléřů, but due to inflation, coins denominated in haléřů are no longer in circulation.

You can exchange your currency for CZK at banks, currency exchange offices, or use an ATM to withdraw cash.

The name "koruna" was suggested by Emperor Franz Joseph I of Austria. After Austria-Hungary dissolved in 1918, Czechoslovakia retained the name of its imperial-era currency. The Czechoslovak koruna was the hardest currency in Europe in the late 1920s.

The Czechoslovak crown was artificially weakened during the Second World War on occupied Czech territory. It was restored after the war and underwent a highly controversial monetary reform in 1953. The Czech koruna replaced the Czechoslovak koruna in 1993.

Here's a brief timeline of the Czech koruna's evolution:

The Czech koruna has a rich history dating back to 1892 when the Austro-Hungarian krone replaced the gulden at the rate of two kronen to one gulden.

The name "koruna" was suggested by the emperor, Franz Joseph I of Austria, and it has been in use ever since. The Czechoslovak koruna was the hardest currency in Europe in the late 1920s.

After Austria-Hungary dissolved in 1918, Czechoslovakia was the only successor state to retain the name of its imperial-era currency. The Czechoslovak crown was artificially weakened during the Second World War.

The Czechoslovak koruna was restored after the war and underwent a highly controversial monetary reform in 1953. The Czech koruna replaced the Czechoslovak koruna in 1993 after the dissolution of Czechoslovakia.

The Czech koruna was first introduced with overstamped 20 Kčs, 50 Kčs, 100 Kčs, 500 Kčs, and 1,000 Kčs banknotes. A new series was properly introduced in 1993.

The Czech Republic's journey to adopting the euro has been a long and winding one. The country had initially planned to adopt the euro in 2010, but that plan was put on hold indefinitely in 2005.

There's considerable opposition to adopting the euro within the Czech Republic. A survey conducted in April 2014 found that only 16% of the Czech population was in favour of replacing the koruna with the euro.

The Czech government's decision to suspend euro adoption plans was likely influenced by this strong opposition. The country's economic stability was also a factor, as it's well-positioned to adopt the euro.

However, the Czech population's sentiment towards euro adoption has remained largely unchanged over the years. A survey conducted by CVVM in April 2018 found that only 20% of the Czech population above 15 years old supported euro adoption.

This suggests that the Czech government's decision to suspend euro adoption plans was a wise one, at least for the time being.

The Czech koruna has undergone several upgrades since its introduction in 1993. The first upgraded series of banknotes was introduced in 1993, featuring renowned Czech persons on the obverse and abstract compositions on the reverse.

Each denomination in this series has unique dimensions, with the 100 Kč note measuring 140 × 69 mm and the 500 Kč note measuring 152 × 69 mm. The main colors of the notes range from turquoise to brown, reflecting the country's rich cultural heritage.

The 100 Kč note features Charles IV on the obverse and the seal of Charles University on the reverse. The 200 Kč note, on the other hand, showcases John Amos Comenius on the obverse and Orbis Pictus and joined hands of an adult and a child on the reverse.

Here's a list of the upgraded banknotes introduced between 2007 and 2018:

These upgraded banknotes feature modern protective elements, including a new color-shifting security thread, additional watermarks, and EURion constellations.

Commemorative banknotes have been a significant part of the Czech Koruna's history, with various series issued over the years. The first commemorative banknote series was introduced in 2008.

The 1000 Kč banknote is a part of this series, featuring a violet color and measuring 158 × 74 mm in size. It was issued in 2008 and features František Palacký, with an overprint on the watermark area.

A unique aspect of the 1000 Kč banknote is its design, which includes an eagle and the Archbishop's Castle in Kroměříž. This design element adds to the banknote's commemorative value.

The Czech National Bank has also issued commemorative banknotes with different main colors, such as turquoise, gold, and olive green. These colors are a distinctive feature of each series.

Here is a list of commemorative banknotes issued by the Czech National Bank, including their main colors and dimensions:

These commemorative banknotes not only add to the aesthetic value of the Czech Koruna but also serve as a reminder of the country's rich history and cultural heritage.

The Czech koruna has had its fair share of historic rate fluctuations, especially in the early 2000s. The currency's record exchange rate run occurred in 2008, with the highest rate being 26.930 for the Euro.

The Czech koruna has been traded against several major currencies, including the US dollar, Euro, Sterling, Swiss franc, and Yen. In 2008, the exchange rates were as follows: US dollar (19.346), Euro (26.930), Sterling (28.270), Swiss franc (18.132), and Yen (0.21348).

The Czech koruna's exchange rate against the US dollar was relatively stable in 2009, with a rate of 18.368. This was a slight decrease from the previous year. The Euro, on the other hand, saw a decrease in exchange rate from 26.930 in 2008 to 26.465 in 2009.

Here is a breakdown of the Czech koruna's exchange rates against various currencies from 2008 to 2022: