Czech koruna

This article is about the currency. For the crown jewel, see Crown of Saint Wenceslas. For the political party, see Koruna Česká (party).

"CZK" redirects here. For the airport with IATA code CZK, see Cascade Locks State Airport.

The koruna, or crown (sign: Kč; code: CZK, Czech: koruna česká), has been the currency of the Czech Republic since 1993. The koruna is one of the European Union's eight currencies, and the Czech Republic is legally bound to adopt the euro in the future.

Czech koruna

koruna česká (Czech)
Czech banknotes 50 Kč coin
ISO 4217
Code	CZK (numeric: 203)
Subunit	0.01
Unit
Plural	The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms.
Symbol	Kč‎
Denominations
Subunit
1⁄100	haléřa
Symbol
haléřa	h
Banknotes
Freq. used	100 Kč, 200 Kč, 500 Kč, 1,000 Kč, 2,000 Kč
Rarely used	5,000 Kč
Coins
Freq. used	5 Kč, 10 Kč, 20 Kč, 50 Kč.
Rarely used	1 Kč, 2 Kč
Demographics
Date of introduction	1993
Replaced	Czechoslovak koruna
User(s)	Czech Republic
Issuance
Central bank	Czech National Bank
Website	www.cnb.cz
Mint	Česká mincovna
Website	ceskamincovna.cz
Valuation
Inflation	2.0%
Source	Czech Statistical Office, March 2024
Method	CPI
a) The haléř is still used for accounting purposes (e.g., financial reports).

The official name in Czech is koruna česká (plural koruny české, though the zero-suffixed 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 crown is made up of 100 hellers (abbreviated as "h", official name in Czech: singular: haléř, nominative plural: haléře, genitive plural: haléřů – used with numbers higher or equal to 5 – e.g. 3 haléře, 8 haléřů), but hellers have now been withdrawn from circulation, and the smallest unit of physical currency is 1 Kč.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 pětka 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. 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 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.^[1] 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.^[2][3] 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".^[4]

Euro adoption discussion

Main article: Czech Republic and the euro

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 2018 survey by CVVM (Public Opinion Research Center), this value has remained at nearly identical levels over the past four years^[specify], with only 20% of the Czech population above 15 years old supporting euro adoption.^[8]

Coins

10 Kč coin series 2000

20 Kč coin series 2000

20 Kč coins series 2018

Series 2018 I, portrait of Tomáš Garrigue Masaryk

Series 2018 II, portrait of Milan Rastislav Štefánik

Series 2018 III, portrait of Edvard Beneš

20 Kč coins series 2019

Series 2019 I, portrait of Alois Rašín

Series 2019 II, portrait of Vilém Pospíšil

Series 2019 III, portrait of Karel Engliš

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.^[9] 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 Ladislav Kozák [cs] (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.

Circulation coins[10]
Image	Value	Technical parameters				Description			Date of
		Diameter	Thickness	Mass	Composition	Edge	Obverse	Reverse	first minting	issue	withdrawal
	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
	20 h	17 mm		0.74 g		Milled		Value, linden leaf	1993	1993	2003
	50 h	19 mm		0.9 g		Alternately plain and milled		Value	1993	1993	2008
	1 Kč	20 mm	1.85 mm	3.6 g	Nickel-plated steel	Milled		Value, St. Wenceslas crown	1993	1993	Current
	2 Kč	21.5 mm, 11-sided		3.7 g		Rounded, plain		Value, a Great Moravian button-jewel	1993	1993	Current
	5 Kč	23 mm		4.8 g		Plain		Value, Charles Bridge, Vltava, linden leaf	1993	1993	Current
	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 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 Kč	27.5 mm center: 17 mm		9.7 g	Outer ring: Copper-plated steel Center 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 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.^[11]

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 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 (The 2,000 Kč note, which was introduced in 1996, is still valid in all versions, with and without the new security features). 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 practice, the 5000 Kč is not commonly found in circulation due to them being prone to misuse or illicit activity (e.g., money laundering). At the end of December 2023, there were 26 million of those banknotes in circulation. In contrast, the next-highest denomination, the 2000 Kč, is the most widely circulated banknote in the country, with almost 190 million in circulation.^[12]

Stamped banknotes

Image		Value	Dimensions	Main colour	Language	Description		Date of
Obverse	Reverse					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 and worker	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

Current banknotes

1993 series
Image		Value	Dimensions	Main colour		Description		Date of
Obverse	Reverse					Obverse	Reverse	printing	issue	withdrawal	lapse
		20 Kč	128 × 64 mm		Blue	Přemysl Otakar I	Ottokar's crown Seal of the Golden Bull of Sicily	1994	20 April 1994	31 August 2008	31 August 2014[13]
		50 Kč	134 × 64 mm		Red	Saint Agnes of Bohemia	Vault of St. Salvator's church Convent of Saint Agnes	1993	6 October 1993	31 January 2007	31 March 2017[14]
								1994	21 December 1994	31 March 2011
								1997	10 September 1997	31 March 2011
		100 Kč	140 × 69 mm		Turquoise	Charles IV	Seal of Charles University	1993	30 June 1993	31 January 2007	1 July 2022[15]
								1995	21 June 1995	current
								1997	15 October 1997	current
		200 Kč	146 × 69 mm		Orange	John Amos Comenius	Orbis Pictus Joined hands of an adult and a child	1993	8 February 1993	31 January 2007	1 July 2022[15]
								1996	14 August 1996	current
								1998	6 January 1999	current
		500 Kč	152 × 69 mm		Brown	Božena Němcová	Laureate woman	1993	21 July 1993	31 January 2007	1 July 2022[15]
								1995	27 December 1995	current
								1997	18 March 1998	current
		1000 Kč	158 × 74 mm		Violet	František Palacký	Eagle Archbishop's Castle in Kroměříž	1993	12 May 1993	30 June 2001	1 July 2022[15]
								1996	6 December 1996	current
		2000 Kč	164 × 74 mm		Green	Emmy Destinn	Euterpe, violin and cello	1996	1 October 1996	current
								1999	1 December 1999	current
		5000 Kč	170 × 74 mm		Grey	Tomáš Garrigue Masaryk	Gothic and Baroque buildings in Prague St. Vitus Cathedral	1993	15 December 1993	30 June 2001	1 July 2022[15]
								1999	8 September 1999	current
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

Upgraded banknotes

1993 (upgraded) series
Image		Value	Dimensions	Main colour		Description		Date of
Obverse	Reverse					Obverse	Reverse	printing	issue
		100 Kč	140 × 69 mm		Turquoise	Charles IV	Seal of Charles University	2018	5 September 2018[16]
		200 Kč	146 × 69 mm		Orange	John Amos Comenius	Orbis Pictus Joined hands of an adult and a child.	2018	5 September 2018[16]
		500 Kč	152 × 69 mm		Brown	Božena Němcová	Laureate woman	2009	1 April 2009[17]
		1000 Kč	158 × 74 mm		Violet	František Palacký	Eagle Archbishop's Castle in Kroměříž	2008	1 April 2008[18]
		2000 Kč	164 × 74 mm		Green	Emmy Destinn	Euterpe, violin and cello	2007	2 July 2007[19]
		5000 Kč	170 × 74 mm		Grey	Tomáš Garrigue Masaryk	Gothic and Baroque buildings in Prague St. Vitus Cathedral	2009	1 December 2009[20]
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

Commemorative banknotes

Commemorative banknote series[21]
Image		Value	Dimensions	Main colour		Description		Date of
Obverse	Reverse					Obverse	Reverse	printing	issue
		100 Kč	140 × 69 mm		Turquoise	Charles IV, overprint on watermark area	Seal of Charles University	2019	30 January 2019
		100 Kč	194 × 84 mm		Gold	Alois Rašín	Czech National Bank building	2019	31 January 2019
		100 Kč	194 × 84 mm		Olive green	Karel Engliš	Clam-Gallas Palace	2022	30 March 2022
		1000 Kč	158 × 74 mm		Violet	František Palacký, overprint on watermark area	Eagle Archbishop's Castle in Kroměříž	2008	8 February 2023[22]
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

Exchange rates

Historic rates

EUR–CZK exchange rate since 1999

The currency had a record exchange rate run in 2008.^[23]

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
Source: Czech National Bank exchange rates[24]

Current rates

Current CZK exchange rates
From Google Finance:	AUD CAD CHF CNY EUR GBP HKD JPY USD PLN HUF
From Yahoo! Finance:	AUD CAD CHF CNY EUR GBP HKD JPY USD PLN HUF
From XE.com:	AUD CAD CHF CNY EUR GBP HKD JPY USD PLN HUF
From OANDA:	AUD CAD CHF CNY EUR GBP HKD JPY USD PLN HUF

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

1. "Czech Koruna Approaches Euro Cap: Intervention Policy Explained". Bloomberg.com. 8 July 2015. Archived from the original on 15 December 2017. Retrieved 4 May 2018 – via www.bloomberg.com.
2. "Czech Central Bank Zeros In on Ending Koruna Cap in Mid-2017". Bloomberg.com. 29 September 2016. Archived from the original on 19 January 2018. Retrieved 4 May 2018 – via www.bloomberg.com.
3. "Czech Central Banker Quashes Bets on Earlier Koruna Cap Exit". Bloomberg.com. 13 September 2016. Archived from the original on 17 February 2018. Retrieved 4 May 2018 – via www.bloomberg.com.
4. "Czechs Trigger Long-Awaited Koruna Float Without Swiss Shock". Bloomberg.com. 6 April 2017. Archived from the original on 18 June 2017. Retrieved 4 May 2018 – via www.bloomberg.com.
5. "Finance Ministry backtracks on joining the Euro by 2012". Radio Praha. Archived from the original on 7 February 2009. Retrieved 22 December 2008.
6. "Euros in the wallets of the Slovaks, but who will be next?" (Press release). Sparkasse.at. 5 August 2008. Archived from the original on 4 September 2006. Retrieved 21 December 2008.
7. "Introduction of the euro in the more recently acceded member states" (PDF). Archived from the original (PDF) on 13 August 2014. Retrieved 11 August 2014.
8. "Občané ČR o budoucnosti EU a přijetí eura" (PDF). Retrieved 28 November 2018.
9. "The CNB decides 50-heller coins will cease to be legal tender". Archived from the original on 14 April 2008. Retrieved 20 January 2008.
10. Czech national bank. Available at: "České mince - Česká národní banka". Archived from the original on 5 September 2013. Retrieved 28 August 2013.
11. "Platidla ČR (1993–20..) – Papírová platidla, bankovky". Papirovaplatidla.cz. Archived from the original on 16 November 2014. Retrieved 19 August 2014.
12. "Structure of currency in circulation - Czech National Bank". www.cnb.cz. Retrieved 18 September 2024.
13. "ČNB". www.cnb.cz. Archived from the original on 4 May 2018. Retrieved 4 May 2018.
14. "Czech Republic to replace 50-koruna note with coin 01.04.2011 - Banknote News". banknotenews.com. Archived from the original on 25 August 2014. Retrieved 4 May 2018.
15. "ČNB za rok ukončí platnost starších bankovek 100 Kč – 2 000 Kč s úzkým stříbřitým proužkem, staré postupně mizí z oběhu (The CNB will terminate the validity of older CZK 100 - CZK 2,000 banknotes with a narrow silver stripe in a year, the old ones will gradually disappear from circulation)". cnb.cz. Archived from the original on 1 July 2021. Retrieved 5 July 2021.
16. "CNB issues new versions of the CZK 100 and 200 banknotes". www.cnb.cz. Retrieved 2 April 2021.
17. "The CNB puts into circulation a new version of the CZK 500 banknote". www.cnb.cz. Retrieved 2 April 2021.
18. "The CNB puts into circulation a new version of the CZK 1000 banknote". www.cnb.cz. Retrieved 2 April 2021.
19. "The CNB puts into circulation a new version of the CZK 2000 banknote". www.cnb.cz. Retrieved 2 April 2021.
20. "The CNB puts into circulation a new version of the CZK 5000 banknote". www.cnb.cz. Retrieved 2 April 2021.
21. "Rašín Alois". zlate-mince.cz. Zlatemince.cz. Retrieved 6 July 2018.
22. "CZK 1000 version 2008 with an additional print "The 30th anniversary of the CNB and the Czech currency"". cnb.cz. Czech National Bank. Retrieved 1 March 2023.
23. "Czech crown extends record run, eyes on CPI". Forbes. 7 July 2008. Archived from the original on 4 June 2011.
24. Czech national bank exchange rate fixing. Available at: "Exchange rates – yearly history". Retrieved 28 June 2023.

External links

• Czech banknotes, Czech National Bank
• Czech coins, Czech National Bank
• Czech banknotes (catalog, gallery and other details, history)
• Heiko Otto (ed.). "Historical and current banknotes of the Czech Republic" (in English, German, and French). Retrieved 6 June 2019.
• Heiko Otto (ed.). "Historical banknotes of Czechoslovakia" (in English, German, and French). Retrieved 6 June 2019.