The koruna has been the currency of the Czech Republic since 1993, after the dissolution of Czechoslovakia.
Origins and history
The Czech koruna replaced the Czechoslovakian koruna in 1993, after the dissolution of Czechoslovakia. Its first series was stamped over Czechoslovakian koruna banknotes for the value of 20, 50, 100, 500 and 1000 korun, until a new series was introduced in 1993.
The Czech Republic planned on adopting the euro in 2010, but the government shut down the project indefinitely in 2005. Even though the country is very well positioned to adopt the euro, there is considerable opposition from most of the population. In fact, a survey conducted in 2014 proved that only a 16% was in favour of replacing the koruna with the euro.
Current Czech koruna banknotes and coins
Today, there are banknotes in denominations of 100, 200, 500, 2000 and 5000 korun.
Regarding coins, denominations of 1, 2, 5, 10, 20 and 50 korun are in circulation.
Interesting facts about the Czech koruna:
- The political system of the Czech Republic is a parliamentary democracy, with Bohuslav Sobotka as Prime Minister.
- It is not allowed to leave the country with more than 10 000 euros (around 273 000 Czech korun).
- Both the Czech Republic and Slovakia entered the European Union on 1 May 2004.