The Czech Koruna is the currency of the Czechia/Czech Republic, and it has been in use since 1993. One koruna is subdivided into 100 haleru, and the symbol for the koruna is “Kč”.
The word “koruna” means “crown” in Czech, and the currency was named after the crowns worn by Bohemian kings.
The first iteration of the currency was introduced in 1919, shortly after the country gained its independence from Austro-Hungarian rule. However, this first attempt at a Czech currency was short-lived, and it was replaced by the Czechoslovakian Koruna just a few years later. This second currency lasted until 1993, when it was replaced by the Prague-based Czech Koruna following the dissolution of Czechoslovakia.
Though it is not part of the Eurozone, it is pegged to the Euro at a rate of 1.95583 CZK to 1 EUR since 2009. As a result, the Czech Koruna is a stable and reliable currency for both businesses and individuals alike. In recent years, its popularity has grown among foreign investors due to the country’s strong economic performance.
As an EU member, Czechia is required to join the Euro in the future, however there is currently little domestic appetite for this.
Coins are available in denominations of 1, 2, 5, 10, 20 and 50 haleru, and 1, 2 and 5 koruna. Banknotes are available in denominations of 10, 20, 50, 100, 200 and 500 koruna.