The Czech Koruna (CZK) is the official currency of the Czech Republic. The symbol for the Koruna is Kč. The subdivision for the koruna is the haléře - 100 haléřů = 1 koruna. The country had planned to replace the Koruna with the Euro in 2012, however strong internal opposition has indefinitely delayed the move.
- The Czech Republic economy is developed; the main focus is industrial.
- Most of the GDP income is from the industrial and service industries.
- The unemployment rate is 6.5%.
- The main industries are glass, machinery, armaments, metallurgy, equipment, and motor vehicles.
- Export products are fuel, chemicals, transport and machinery equipment, and raw materials.
- The Czech Republic is the first communist country to obtain an investment grade rating from the international credit institution.
- The first Koruna was introduced in 1892, based on the German Krone.
- A new Koruna was issued in 1919, equal in value to the Austro-Hungarian Krone. The first notes were also released in 1919.
- In 1922, the first Koruna coins were distributed.
- The first Koruna was in circulation until 1939, when the currency was divided into Bohemia, Moravia, and Slovakia.
- In 1945, the Czechoslovak Koruna was reintroduced, but due to the war the currency depreciated.
- In 1953, a drastic change took place and the country reformed its currency. Printed USSR banknotes were distributed. All insurance stock, commercial papers, and state obligations were demolished and nullified.
- In 1993, upon the dissolution of Czechoslovakia, the Czechoslovak Koruna was split into the Slovak Koruna and the Czech Koruna.
Symbols and Names
- Symbols: Kč
- Nicknames: none
ISO 4217 Code
- Haléř = 1/100 of a Koruna
- Bills: 100, 200, 500, 1,000, 2,000, 5,000 Kč
- Coins: 1, 2, 5, 10, 20, 50 Kč
Countries Using This Currency
- Czech Republic
Currencies Pegged To CZK :
CZK Is Pegged To: