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Czech koruna

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Czech koruna
[ temporary import ]
please note:
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{{about|the currency|crown jewel|Crown of Saint Wenceslas|the political party|Koruna Česká (party)|CZK airport|Cascade Locks State Airport}}{{Use dmy dates|date=November 2016}}







factoids
| image_1 = CZK_Banknotes_2014.png| image_title_1 = Koruna banknotes | image_2 = 50 CZK.png| image_title_2 = 50 Kč coin| iso_code = CZK | iso_number = 203| iso_exponent = 2| subunit_name_1 = haléř (defunct)| symbol = Kč | frequently_used_banknotes = 100, 200, 500, 1000, 2000 Kč| rarely_used_banknotes = 5000 Kč| used_coins = 1, 2, 5, 10, 20, 50 Kč100}} | plural_slavic = Y| symbol_subunit_1 = h | banknote_article = Banknotes of the Czech koruna | coin_article =Czech Republic}} | issuing_authority = Czech National Bank www.cnb.cz}}Czech Mint>ÄŒeská mincovna| mint_website = ceskamincovna.cz| inflation_rate = 2.5%| inflation_source_date = Czech Statistical Office, February 2017Consumer price index>CPI}}The koruna (sign: Kč; code: CZK) is the currency of the Czech Republic since 1993, and in English it is sometimes referred to as Czech crown or Czech krone. 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genitive plural: haléřů – used with numbers higher or equal to 5 – e.g. 3 haléře, 8 haléřů), but haléře have been withdrawn, and the smallest unit of physical currency is 1 Kč.

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 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) intervened to weaken the exchange rate of the koruna through a monetary stimulus to stop the currency from excessive strengthening.WEB,weblink Czech Koruna Approaches Euro Cap: Intervention Policy Explained, 8 July 2015, 4 May 2018, www.bloomberg.com, live,weblink 15 December 2017, dmy-all, In late 2016, the ČNB stated that the return to conventional monetary policy was planned for mid-2017.WEB,weblink Czech Central Bank Zeros In on Ending Koruna Cap in Mid-2017, 29 September 2016, 4 May 2018, www.bloomberg.com, live,weblink 19 January 2018, dmy-all, WEB,weblink Czech Central Banker Quashes Bets on Earlier Koruna Cap Exit, 13 September 2016, 4 May 2018, www.bloomberg.com, live,weblink 17 February 2018, dmy-all, 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".WEB,weblink Czechs Trigger Long-Awaited Koruna Float Without Swiss Shock, 6 April 2017, 4 May 2018, www.bloomberg.com, live,weblink 18 June 2017, dmy-all,

Euro adoption discussion

The Czech Republic planned to adopt the euro in 2010, but its government suspended that plan indefinitely in 2005.WEB,weblink Finance Ministry backtracks on joining the Euro by 2012, Radio Praha, 22 December 2008, dead,weblink" title="web.archive.org/web/20090207112543weblink">weblink 7 February 2009, dmy-all, Although the country is economically well positioned to adopt the euro, there is considerable opposition to the move within the Czech Republic.PRESS RELEASE,weblink Euros in the wallets of the Slovaks, but who will be next?, Sparkasse.at, 5 August 2008, 2008-12-21, dead,weblink" title="web.archive.org/web/20060904020211weblink">weblink 4 September 2006, dmy-all, According to a survey conducted in April 2014, only 16% of the Czech population was in favour of replacing the koruna with the euro.WEB,weblink Archived copy, 2014-08-11, live,weblink" title="web.archive.org/web/20140813225221weblink">weblink 13 August 2014, dmy-all, 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.WEB,weblink Archived copy, 2018-11-28, dmy-all, {{-}}

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.WEB,weblink The CNB decides 50-heller coins will cease to be legal tender, 20 January 2008, dead,weblink" title="web.archive.org/web/20080414225309weblink">weblink 14 April 2008, dmy-all, 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 {{ill|Ladislav Kozák|cs|Ladislav Kozák (sochař)}} (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.{|class="wikitable" style="font-size: 90%"!colspan=12|Circulation coinsCzech national bank. Available at: WEB,weblink Archived copy, 2013-08-28, dead,weblink" title="web.archive.org/web/20130905051647weblink">weblink 5 September 2013, dmy-all, ! rowspan=2| Image !!rowspan="2"| Value !!colspan=4| Technical parameters !!colspan=3| Description !!colspan=4| Date of ! Diameter !! Thickness !! Mass !! Composition !! Edge !! Obverse !! Reverse !! first minting !! issue !! withdrawal {{Coin-silver-color}}
missing image!
- 10h CZK.png -
| 10 h| 15.5 mm 1.7 mm| 0.6 g 99% aluminium1% magnesium| Plain "ÄŒESKÁ REPUBLIKA", the Czech lion, year of minting| Value, stylized river| 1993| 1993 2003 {{Coin-silver-color}}
missing image!
- 20h CZK.png -
| 20 h| 17 mm| 0.74 g| MilledTilia>linden leaf| 1993| 1993 2003 {{Coin-silver-color}}
missing image!
- 50h CZK.png -
| 50 h| 19 mm| 0.9 g| Alternately plain and milled| Value| 1993| 1993 2008 {{Coin-silver-color}}
missing image!
- 1 CZK.png -
| 1 Kč| 20 mm 1.85 mm| 3.6 g Nickel-plated steel| MilledCrown of Saint Wenceslas>St. Wenceslas crown| 1993| 1993 Current {{Coin-silver-color}}
missing image!
- 2 CZK.png -
| 2 KčHendecagon>11-sided| 3.7 g| Rounded, plain| Value, a Great Moravian button-jewel| 1993| 1993 Current {{Coin-silver-color}}
missing image!
- 5 CZK.png -
| 5 Kč| 23 mm| 4.8 g| Plain| Value, Charles Bridge, Vltava, linden leaf| 1993| 1993 Current
missing image!
- 10 CZK.png -
| 10 Kč| 24.5 mm 2.55 mm| 7.62 g| Copper-plated steel| MilledCathedral of St. Peter and Paul, Brno>Cathedral of St. Peter and Paul at Petrov monument in Brno| 1993| 1993 Current
missing image!
- 20 CZK.png -
| 20 KčTridecagon>13-sided| 8.43 g| Brass-plated steel| Rounded, plainWenceslaus I, Duke of Bohemia>St. Wenceslas monument on Wenceslas Square, inscription from the monument: "SVATÝ VÁCLAVE NEDEJ ZAHYNOUT NÁM I BUDOUCÍM"| 1993| 1993 Current
missing image!
- 50 CZK.png -
|50 Kč|27.5 mmcenter: 17 mm| 9.7 g| Outer ring: Copper-plated steelCenter plug: Brass-plated steel| Plain| "PRAGA MATER URBIUM" (Prague, the Mother of Towns), view of Prague| 1993| 1993 Current

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.WEB,weblink Platidla ČR (1993–20..) – Papírová platidla, bankovky, Papirovaplatidla.cz, 2014-08-19, live,weblink" title="web.archive.org/web/20141116184206weblink">weblink 16 November 2014, dmy-all, 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.

Stamped banknotes{|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 banknotes300px)300px)| 10 Kčs| 133 Ã— 67 mm| BrownSlovak language>Slovak| Pavol Országh-HviezdoslavOrava (county)>Orava scene| 1986| 7 February 1993| 31 July 1993300px)300px)| 20 Kčs| 138 Ã— 67 mm| BlueCzech language>Czech| Comenius| Illustration related to culture and education| 1988| 7 February 1993| 31 July 1993300px)300px)| 50 Kčs| 143 Ã— 67 mm| RedSlovak language>Slovak| Ľudovít Å túrBratislava with the Bratislava Castle>castle (from the restaurant on the top of the pylon of the Nový Most)| 1987| 7 February 1993| 31 July 1993!colspan="11"|Overstamped Czechoslovak banknotes300px)300px)| 100 Kč| 165 Ã— 81 mm| GreenCzech language>Czech| Peasant couplePrague with the Prague Castle>castle and the Charles Bridge| 1961| 7 February 1993| 31 August 1993300px)300px)| 500 Kč| 153 Ã— 67 mm| BrownSlovak language>SlovakPartisan (military)>Partisans of the SNP 1944| Devín Castle| 1973| 7 February 1993| 31 August 1993300px)300px)| 1,000 Kč| 158 Ã— 67 mm| BlueCzech language>Czech| BedÅ™ich Smetana| View of the Vltava at VyÅ¡ehrad| 1985| 7 February 1993| 31 August 1993

Original Czech banknotes

The Greater coat of arms of the Czech Republic can be found on the reverse side of all denominations.{{citation needed|date=July 2017}}{|class="wikitable" style="font-size: 90%"!rowspan="2"| Value !!rowspan="2"| Dimensions !!rowspan="2"| Main Colour !!colspan="2"| Description !!colspan="4"| Date of! Obverse !! Reverse !! printing !! issue !! withdrawal !! lapse!colspan="9"|First original (second 1993) series| 20 Kč| 128 Ã— 64 mm| BlueOttokar I of Bohemia>PÅ™emysl Otakar I and his seal| Crown| 1994| 20 April 1994| 31 August 2008WEBSITE=WWW.CNB.CZURL-STATUS=DEADARCHIVEDATE=4 MAY 2018, dmy-all, 50 Kč 134 Ã— 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 2017HTTP://BANKNOTENEWS.COM/FILES/DCBD41B58FC6BEC2C6FFC1313B6E6517-1314.PHP>TITLE=CZECH REPUBLIC TO REPLACE 50-KORUNA NOTE WITH COIN 01.04.2011 - BANKNOTE NEWSACCESSDATE=4 MAY 2018ARCHIVEURL=HTTP://ARCHIVE.WIKIWIX.COM/CACHE/20140825030349/HTTP://BANKNOTENEWS.COM/FILES/DCBD41B58FC6BEC2C6FFC1313B6E6517-1314.PHPDF=DMY-ALL, | 1994| 21 December 1994| 31 March 2011| 1997| 10 September 1997| 31 March 2011 100 Kč 140 Ã— 69 mm Green and 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 Ã— 69 mm Brown and 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 Ã— 69 mm Brown and pink Božena NÄ›mcová and rose Laureate woman symbolizing all woman characters in NÄ›mcová'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 Ã— 74 mm Violet FrantiÅ¡ek 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 Ã— 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 Ã— 74 mm Dark blue and violet Tomáš Garrigue Masaryk Gothic architecture and Baroque architecture>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 currentURLHTTPS://WWW.ZLATE-MINCE.CZ/BANKOVKA_RASIN.HTM, titleRašín Alois, workzlate-mince.cz, publisherZlatemince.cz, access-date6 July 2018, ">

Commemorative banknotes{|class"wikitable" style"font-size: 90%"URLHTTPS://WWW.ZLATE-MINCE.CZ/BANKOVKA_RASIN.HTM, titleRašín Alois, workzlate-mince.cz, publisherZlatemince.cz, access-date6 July 2018,

!colspan="2"| Image !!rowspan="2"| Value !!rowspan="2"| Dimensions !!colspan="3"| Description !!colspan="4"| Date of! Obverse !! Reverse !! Obverse !! Reverse !! Watermark !! printing* !! issue!! withdrawal!! lapse (File:100 CZK obverse 2019.jpg|225px) (File:100 CZK reverse 2019.jpg|225px)| 100 Kč| 150 × 65 mm| Alois Rašín| Czech National Bank| RÄŒS| 2019| 25 February 2019TBD | 100 Kč Green and pink| 140 × 69 mm Charles IV, Holy Roman Emperor>Charles IV, overprint on watermark area| Seal of Charles University| | | TBDFor 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

{{col-begin}}{{col-2}}(File:Euro exchange rate to CZK.svg|thumb|400px|EUR–CZK exchange rate since 1999)The currency was on a record exchange rate run in 2008.NEWS,weblink Forbes, Czech crown extends record run, eyes on CPI, 7 July 2008,weblink" title="web.archive.org/web/20110604011951weblink">weblink 4 June 2011, Most traded currencies (since 31 December 2008):{| class="wikitable" style="text-align:right"|YearUSA}} USDEUR}} EURGBR}} GBPSUI}} CHFJPN}} JPY|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| 0.18915Source: Czech National Bank exchange rates Czech national bank exchange rate fixing. Available at: WEB,weblink Archived copy, 2018-02-05, live,weblink 6 February 2018, dmy-all,

Current rates

{{Exchange rate|CZK}}

See also

References

{{Reflist|2}}

External links

{{commons category|Money of the Czech Republic}} {{Historical currencies of the Czech Republic and Slovakia|state=collapsed}}{{Czech Republic topics}}{{Crown}}{{Euro topics}}{{Currency signs}}{{Currencies of Europe}}

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