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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. 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).
In 1993, on the breakup of Czechoslovakia, the Czechoslovak koruna split into two independent currencies: the Slovak koruna and the Czech koruna. Accession to the EU in 2004 meant both currencies were slotted to be replaced by the euro once their respective countries met the criteria for economic convergence and there was the political will to ...
In 1945, four kinds of banknotes of Czechoslovak koruna were introduced. The first were issues of Bohemia and Moravia and Slovakia, to which adhesive stamps were affixed. Denominations issued were 100, 500 and 1000 korun.
Between 1946 and 1948, 20 and 50 haléřů and 1 and 2 koruny coins were introduced. The lower two denominations were struck in bronze, the higher two in cupro-nickel. The designs of all but the 2 koruny were based on those of the interwar coins but the coins were smaller.
The CNB maintains exclusive rights to issue and regulate banknotes and coins. The Bank oversees the legal and technical protection of the currency, the Koruna (also called the Crown). The Czech Republic was scheduled to adopt the Euro in 2010, but due to popular opinion, the Czech government opted to stay with the crown.
Tuzex was a series of state-run shops in Czechoslovakia from 1957 to 1992 which did not accept normal Czechoslovak koruna currency but only vouchers which could be purchased from banks using foreign currency. They supplied luxury items: local goods in short supply and in particular foreign goods.
In 1921, coins were introduced in denominations of 20 and 50 haleru, followed by 10h and 1 koruna in 1922, 2 and 5h in 1923, 5 korun in 1925, 10 korun in 1930, and 25h and 20 korun in 1933. The 2h was struck in zinc, the 5 and 10h in bronze, and the 20, 25 and 50h and 1 koruna in cupro-nickel. The 5 koruna was struck in cupro-nickel until 1928 ...
Regular banknotes of Czechoslovak koruna were subsequently issued (initially dated 15 April 1919) by the Republic of Czechoslovakia between 1919 and 1926, in denominations of 1, 5, 10, 20, 50, 100, 500, 1000 and 5000 korun. The Czechoslovak National Bank took over production in 1926, issuing notes for 10, 20, 50, 100, 500 and 1000 korun.