# Czech koruna

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.
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genitive plural: haléřů – used with numbers higher or equal to 5 – e.g. 3 haléře, 8 haléřů), but hellers have now been withdrawn from circulation, and the smallest unit of physical currency is 1 Kč.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. 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. 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".

## Euro adoption discussion

The Czech Republic planned to adopt the euro in 2010, but its government suspended that plan indefinitely in 2005. Although the country is economically well positioned to adopt the euro, there is considerable opposition to the move within the Czech Republic. According to a survey conducted in April 2014, only 16% of the Czech population was in favour of replacing the koruna with the euro. As reported by an April 2018 survey by CVVM (Public Opinion Research Center), this value remained at nearly identical levels between 2014-18, with only 20% of the Czech population above 15 years old supporting euro adoption.

## 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 (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. 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 :
| Image | Value | Technical parameters | Technical parameters | Technical parameters | Technical parameters | Description | Description | Description | Date of | Date of | Date of |
| Image | Value | 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 | 1.7 mm | 0.74 g | 99% aluminium 1% magnesium | Milled | "ČESKÁ REPUBLIKA", the Czech lion, year of minting | Value, linden leaf | 1993 | 1993 | 2003 |
| | 50 h | 19 mm | 1.7 mm | 0.9 g | 99% aluminium 1% magnesium | Alternately plain and milled | "ČESKÁ REPUBLIKA", the Czech lion, year of minting | Value | 1993 | 1993 | 2008 |
| | 1 Kč | 20 mm | 1.85 mm | 3.6 g | Nickel-plated steel | Milled | "ČESKÁ REPUBLIKA", the Czech lion, year of minting | Value, St. Wenceslas crown | 1993 | 1993 | Current |
| | 2 Kč | 21.5 mm, 11-sided | 1.85 mm | 3.7 g | Nickel-plated steel | Rounded, plain | "ČESKÁ REPUBLIKA", the Czech lion, year of minting | Value, a Great Moravian button-jewel | 1993 | 1993 | Current |
| | 5 Kč | 23 mm | 1.85 mm | 4.8 g | Nickel-plated steel | Plain | "ČESKÁ REPUBLIKA", the Czech lion, year of minting | Value, Charles Bridge, Vltava, linden leaf | 1993 | 1993 | Current |
| | 10 Kč | 24.5 mm | 2.55 mm | 7.62 g | Copper-plated steel | Milled | "ČESKÁ REPUBLIKA", the Czech lion, year of minting | Value, Cathedral of St. Peter and Paul at Petrov monument in Brno | 1993 | 1993 | Current |
| | 20 Kč | 26 mm, 13-sided | 2.55 mm | 8.43 g | Brass-plated steel | Rounded, plain | "ČESKÁ REPUBLIKA", the Czech lion, year of minting | 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 | 2.55 mm | 9.7 g | Outer ring: Copper-plated steel Center plug: Brass-plated steel | Plain | "ČESKÁ REPUBLIKA", the Czech lion, year of minting | "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.
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.

### Stamped banknotes

| Image | Image | Value | Dimensions | Main colour | Language | Description | Description | Date of | Date of | Date of |
| Obverse | Reverse | Value | Dimensions | Main colour | Language | 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 | Image | Value | Dimensions | Main colour | Main colour | Description | Description | Date of | Date of | Date of | Date of |
| Obverse | Reverse | Value | Dimensions | Main colour | Main colour | 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 |
| | | 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 |
| | | 50 Kč | 134 × 64 mm | | Red | Saint Agnes of Bohemia | Vault of St. Salvator's church Convent of Saint Agnes | 1994 | 21 December 1994 | 31 March 2011 | 31 March 2017 |
| | | 50 Kč | 134 × 64 mm | | Red | Saint Agnes of Bohemia | Vault of St. Salvator's church Convent of Saint Agnes | 1997 | 10 September 1997 | 31 March 2011 | 31 March 2017 |
| | | 100 Kč | 140 × 69 mm | | Turquoise | Charles IV | Seal of Charles University | 1993 | 30 June 1993 | 31 January 2007 | 1 July 2022 |
| | | 100 Kč | 140 × 69 mm | | Turquoise | Charles IV | Seal of Charles University | 1995 | 21 June 1995 | current | current |
| | | 100 Kč | 140 × 69 mm | | Turquoise | Charles IV | Seal of Charles University | 1997 | 15 October 1997 | current | 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 |
| | | 200 Kč | 146 × 69 mm | | Orange | John Amos Comenius | Orbis Pictus Joined hands of an adult and a child | 1996 | 14 August 1996 | current | current |
| | | 200 Kč | 146 × 69 mm | | Orange | John Amos Comenius | Orbis Pictus Joined hands of an adult and a child | 1998 | 6 January 1999 | current | current |
| | | 500 Kč | 152 × 69 mm | | Brown | Božena Němcová | Laureate woman | 1993 | 21 July 1993 | 31 January 2007 | 1 July 2022 |
| | | 500 Kč | 152 × 69 mm | | Brown | Božena Němcová | Laureate woman | 1995 | 27 December 1995 | current | current |
| | | 500 Kč | 152 × 69 mm | | Brown | Božena Němcová | Laureate woman | 1997 | 18 March 1998 | current | 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 |
| | | 1000 Kč | 158 × 74 mm | | Violet | František Palacký | Eagle Archbishop's Castle in Kroměříž | 1996 | 6 December 1996 | current | current |
| | | 2000 Kč | 164 × 74 mm | | Green | Emmy Destinn | Euterpe, violin and cello | 1996 | 1 October 1996 | current | current |
| | | 2000 Kč | 164 × 74 mm | | Green | Emmy Destinn | Euterpe, violin and cello | 1999 | 1 December 1999 | current | 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 |
| | | 5000 Kč | 170 × 74 mm | | Grey | Tomáš Garrigue Masaryk | Gothic and Baroque buildings in Prague St. Vitus Cathedral | 1999 | 8 September 1999 | current | 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 | Image | Value | Dimensions | Main colour | Main colour | Description | Description | Date of | Date of |
| Obverse | Reverse | Value | Dimensions | Main colour | Main colour | Obverse | Reverse | printing | issue |
| | | 100 Kč | 140 × 69 mm | | Turquoise | Charles IV | Seal of Charles University | 2018 | 5 September 2018 |
| | | 200 Kč | 146 × 69 mm | | Orange | John Amos Comenius | Orbis Pictus Joined hands of an adult and a child. | 2018 | 5 September 2018 |
| | | 500 Kč | 152 × 69 mm | | Brown | Božena Němcová | Laureate woman | 2009 | 1 April 2009 |
| | | 1000 Kč | 158 × 74 mm | | Violet | František Palacký | Eagle Archbishop's Castle in Kroměříž | 2008 | 1 April 2008 |
| | | 2000 Kč | 164 × 74 mm | | Green | Emmy Destinn | Euterpe, violin and cello | 2007 | 2 July 2007 |
| | | 5000 Kč | 170 × 74 mm | | Grey | Tomáš Garrigue Masaryk | Gothic and Baroque buildings in Prague St. Vitus Cathedral | 2009 | 1 December 2009 |
| These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table. ||||||||||

### Commemorative banknotes

Commemorative banknote series :
| Image | Image | Value | Dimensions | Main colour | Main colour | Description | Description | Date of | Date of |
| Obverse | Reverse | Value | Dimensions | Main colour | Main colour | 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 |
| These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table. ||||||||||

## Exchange rates
### Historic rates

The currency had a record exchange rate run in 2008.
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 |
| 2023 | 22.376 | 24.725 | 28.447 | 26.688 | 0.15811 |
| 2024 | 24.237 | 25.185 | 30.378 | 26.768 | 0.15449 |
| Source: Czech National Bank exchange rates ||||||