Koruna česká: History, Features, and Current Exchange Rates

The koruna česká, or Czech koruna, is the official currency of the Czech Republic. It's been the country's standard unit of exchange since 1993.

The koruna is divided into 100 haléřů, which are the smallest denomination of Czech currency.

In the Czech Republic, you can exchange foreign currency at banks, currency exchange offices, and some hotels.

Curious to learn more? Check out: Czech Koruna Czk

The Czech koruna has a rich history that spans over a century. The Austro-Hungarian krone replaced the gulden in 1892, with the emperor Franz Joseph I suggesting the name.

In the late 1920s, the Czechoslovak koruna was the hardest currency in Europe. This was a remarkable achievement, considering the economic challenges the country faced at the time.

The currency underwent a highly controversial monetary reform in 1953, which had a significant impact on the economy. The Czechoslovak crown was restored after the war, but its value was artificially weakened during the occupation.

In 1993, the Czech koruna replaced the Czechoslovak koruna after the dissolution of Czechoslovakia. The new currency was introduced with overstamped banknotes, which were later replaced with a new series in 1993.

Worth a look: Koruna Ceska Coin

The Czech National Bank intervened in 2013 to weaken the exchange rate of the koruna, which was causing the currency to strengthen excessively. This decision was made to support the Czech economy, but it was unpopular among the public.

The Czech koruna finally broke free from the monetary cap in 2017, after the national bank removed it due to higher-than-expected inflation and other economic indicators.

Suggestion: What Is the Currency in Czech Republic

The Czech Republic has been discussing adopting the euro for a while, but it's not a straightforward decision.

In 2005, the Czech government suspended its plan to adopt the euro indefinitely, despite being economically well positioned to do so.

A survey conducted in April 2014 showed that only 16% of the Czech population was in favor of replacing the koruna with the euro.

This sentiment hasn't changed much over the years, with a 2018 survey by CVVM finding that still only 20% of the Czech population above 15 years old supports euro adoption.

The Czech Republic has been a member of the European Union since 2004, but it's chosen to keep its own currency, the koruna česká.

The Czech koruna has a wide range of coins, each with its own unique design and composition. The coins increase in size and weight with value, with the largest being the 50 Kč coin.

In 1993, coins were introduced in denominations of 10, 20, and 50 haléřů, 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 due to their diminishing purchasing power and circulation.

Here is a breakdown of the circulating coins:

The obverse of a coin is the front side, and in the case of Czech koruna coins, it's a beautiful design that features the Czech lion. The lion is a symbol of the Czech Republic and is depicted on all coins.

The Czech lion is often accompanied by a mintmark, which is located between the legs of the lion. This mintmark is a small detail that can be easily overlooked, but it's an important part of the coin's design.

The obverse design of Czech koruna coins is the work of various artists, including Jarmila Truhlíková-Spěváková, who designed the Czech lion as depicted on the coins.

Here's a breakdown of the obverse designs for each denomination:

Each of these designs is unique and adds to the overall beauty of the coin.

Stamped banknotes are a type of banknote that has been overprinted with a new value or design. They were used in Czechoslovakia.

The stamped banknotes were introduced in 1961 with the 100 Kčs note. This note measured 165 × 81 mm and had a green main colour.

The 500 Kčs note was also stamped, measuring 153 × 67 mm with a brown main colour. It was overprinted with a new design featuring Devín Castle.

The stamped banknotes were withdrawn from circulation on different dates, with the 100 Kčs note being withdrawn on 31 August 1993 and the 500 Kčs note being withdrawn on the same date.

Here are the details of the stamped banknotes: