# Czech koruna

Currency of the Czech Republic

Czech crown
koruna česká (Czech)
 Czech banknotes 50 Kč coin
ISO 4217
CodeCZK
Number203
Exponent2
Unit
PluralThe language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms.
Symbol
Denominations
Subunit
1100heller (defunct)
Symbol
heller (defunct)h
Banknotes
Freq. used100 Kč, 200 Kč, 500 Kč, 1,000 Kč, 2,000 Kč
Rarely used5,000 Kč
Coins
Freq. used1 Kč, 2 Kč, 5 Kč, 10 Kč, 20 Kč, 50 Kč
Demographics
User(s) Czech Republic
Issuance
Central bankCzech National Bank
Websitewww.cnb.cz
MintČeská mincovna
Websiteceskamincovna.cz
Valuation
Inflation12.7%
SourceCzech Statistical Office, March 2022
MethodCPI

The crown,[1] or koruna, (sign: ; code: CZK, Czech: koruna česká) has been the currency of the Czech Republic since 1993. The crown is one of the European Union's 9 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 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genitive plural: haléřů – used with numbers higher or equal to 5 – e.g. 3 haléře, 8 haléřů), but hellers have now been withdrawn from circulation, and the smallest unit of physical currency is 1 Kč. Despite its withdrawal hellers are still used in pricing of goods and foreign exchange rates, but are rounded to the nearest crown at checkout.

## History

In 1892, the Austro-Hungarian crown replaced the florin, at the rate of one florin to two crowns (which is also the reason why the 10 Kč coin had been nicknamed pětka or "the five" - 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 crown 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 crown replaced the Czechoslovakian crown when it was introduced 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, 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 crown through a monetary stimulus to stop the currency from excessive strengthening.[2] 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.[3][4] After higher-than-expected inflation and other figures, the national bank removed the cap at a special monetary meeting on April 6, 2017. The crown 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".[5]

The Czech Republic planned to adopt the euro in 2010, but its government suspended that plan indefinitely in 2005.[6] Although the country is economically well positioned to adopt the euro, there is considerable opposition to the move within the Czech Republic.[7] According to a survey conducted in April 2014, only 16% of the Czech population was in favour of replacing the crown with the euro.[8] 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.[9]

## Coins

The coins of the Czech crown increase in size and weight with value.

In 1993, coins were introduced in denominations of 10, 20 and 50 hellers (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.[10] 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 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[11]
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.[12]

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 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.

### 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

### Original Czech banknotes

The Greater coat of arms of the Czech Republic can be found on the reverse side of all denominations.

First original (second 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 and the seal of 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 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 2017[14]
1994 21 December 1994 31 March 2011
1997 10 September 1997 31 March 2011
100 Kč 140 × 69 mm Green and pink 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 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 1 July 2022[15]
1996 14 August 1996 current
1998 6 January 1999 current
500 Kč 152 × 69 mm Brown and pink Božena Němcová Laureate woman symbolizing all woman characters in Němcová's books 1993 21 July 1993 31 January 2007 1 July 2022[15]
1995 27 December 1995 current
1997 18 March 1998 current
1,000 Kč 158 × 74 mm Violet František Palacký Eagle spread its wings over the Archbishop's Castle in Kroměříž 1993 12 May 1993 30 June 2001 1 July 2022[15]
1996 6 December 1996 current
2,000 Kč 164 × 74 mm Green Emmy Destinn Euterpe and musical motifs like violin 1996 1 October 1996 current
1999 1 December 1999 current
5,000 Kč 170 × 74 mm Dark blue and violet Tomáš Garrigue Masaryk Gothic and Baroque buildings in Prague, in centre dominating St. Vitus Cathedral 1993 15 December 1993 30 June 2001 1 July 2022[15]
1999 8 September 1999 current

1993 (2007-2018) series
Image Value Dimensions Main colour Description Date of
Obverse Reverse Obverse Reverse printing issue withdrawal lapse
100 Kč 140 × 69 mm Green and pink Charles IV Seal of Charles University 2018 5 September 2018[16] current
200 Kč 146 × 69 mm Brown and orange John Amos Comenius Orbis Pictus, an adult's hand passing to a child's hand 2018 5 September 2018[16]
500 Kč 152 × 69 mm Brown and pink Božena Němcová Laureate woman symbolizing all woman characters in Němcová's books 2009 1 April 2009[17]
1,000 Kč 158 × 74 mm Violet František Palacký Eagle spread its wings over the Archbishop's Castle in Kroměříž 2008 1 April 2008[18]
2,000 Kč 164 × 74 mm Green Emmy Destinn Euterpe and musical motifs like violin 2007 2 July 2007[19]
5,000 Kč 170 × 74 mm Dark blue and violet Tomáš Garrigue Masaryk Gothic and Baroque buildings in Prague, in centre dominating St. Vitus Cathedral 2009 1 December 2009[20]

### Commemorative banknotes

Commemorative banknote series[21]
Image Value Dimensions Main colour Description Date of
Obverse Reverse Obverse Reverse printing issue withdrawal lapse
100 Kč 150 × 65 mm Gold Alois Rašín Czech National Bank 2019 31 January 2019 TBD
100 Kč 140 × 69 mm Green and pink Charles IV, overprint on watermark area Seal of Charles University 2019 30 January 2019

For the 100th anniversary of the crown, a new banknote will be issued, featuring the face of Czech politician Alois Rašín. There is also an overprint on the normal 100 Kč note as second commemorative note.

## Exchange rates

### Historic rates

EUR–CZK exchange rate since 1999

The currency had a record exchange rate run in 2008.[22]

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 Source: Czech National Bank exchange rates[23]

### 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

## References

1. ^ The Czech National Bank regards "crown" as the currency's official English name in its English language publications https://www.cnb.cz/export/sites/cnb/en/public/.galleries/media_service/conferences/speeches/download/hampl_20150916_economic_forum_liberec.pdf
2. ^ "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.
3. ^ "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.
4. ^ "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.
5. ^ "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.
6. ^ "Finance Ministry backtracks on joining the Euro by 2012". Radio Praha. Archived from the original on 7 February 2009. Retrieved 22 December 2008.
7. ^ "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.
8. ^ "Archived copy" (PDF). Archived (PDF) from the original on 13 August 2014. Retrieved 11 August 2014.`{{cite web}}`: CS1 maint: archived copy as title (link)
9. ^ "Archived copy" (PDF). Retrieved 28 November 2018.
10. ^ "The CNB decides 50-heller coins will cease to be legal tender". Archived from the original on 14 April 2008. Retrieved 20 January 2008.
11. ^ Czech national bank. Available at: "České mince - Česká národní banka". Archived from the original on 5 September 2013. Retrieved 28 August 2013.
12. ^ "Platidla ČR (1993–20..) – Papírová platidla, bankovky". Papirovaplatidla.cz. Archived from the original on 16 November 2014. Retrieved 19 August 2014.
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. ^ a b c d e "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. ^ a b "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. ^ "Czech crown extends record run, eyes on CPI". Forbes. 7 July 2008. Archived from the original on 4 June 2011.
23. ^ Czech national bank exchange rate fixing. Available at: "Exchange rates – yearly history". Retrieved 20 February 2020.