The Czech Republic has been an independent country since its “Velvet Divorce” from Slovakia in 1993. The former member of Czechoslovakia borders Poland, Austria and Slovakia. With around 10.5 million people, the Czech Republic relies on the export of machinery and transport equipment. Its economy is relatively stable. A member of the EU, it is rapidly pushing ahead in improving its technology and infrastructure. Its major currency for trade is the koruna. It lists at 100 hallers or haléřů. The symbol for the koruny, plural, korona, is CZK.
History
The original money of the Czech Republic was the same as that of Czechoslovakia – gold pieces imitating the Greek coins of Alexander III of Macedon. This Celtic money dates from around the 3rd century B.C. Similar coinage along these lines emerged including the series with “mussel” designs – resembling sea shells.
Bohemia and southern Germany had rainbow-cup coinage during the 2nd century. As well, there were silver coins for the various Mediterranean regions. Slovakia developed it sown unique coinage while the Czechs continued to have a German influence. In the late 1st century B.C., both countries felt the affects of a Roman neighbor. Roman coins, usually denarii, became, in the Czech region, part of the monetary system through “protection monies.” This period lasted until around the 10th century.
In the 1100s, Germany began to introduce increasingly coinage in the area. The Bohemian mines began to produce silver for early coins. Coinage became plentiful in Bohemia with denars a popular coin in circulation. Biface denars appeared under King Wenceslas II during the late 13th and early 14th centuries. He is also responsible for the famous Pragergroschen coin. It features the Bohemian lion on the reverse and the crown on the obverse and set a standard for Eastern Europe during the late Middle Ages.
The Hapsburgs also affected the coinage from 1562 onwards. This was Austrian coinage. After WWI, the new Republic of Czechoslovakia set up a system using the haleru and koruna. The coins included 1, 5, 20 and 50-hallers and 1, 2 and 5-korun. WWII saw the circulation of German coinage for the now two provinces: Slovakia and Bohemia-Moravia. This division ended with reunification after the war and, under the communists, the pre-war currency was re-instated.
The collapse of the USSR in 1989 resulted in the Velvet Revolution and the eventual Velvet Divorce on January 1, 1993. The monetary system reclaimed the koruna česka or the koruna crown. Today, the currency consists of banknotes and coins of coruna and hallers. Banknotes include 20, 50, 100, 200, 500, 1,000, 2,000, and 5,000 koruny. Coins consist of 10, 20 and 50 hallers and 1, 2, 5, 10, 20 and 50 koruny.
Obtaining Czech Republic Koruny
You can access Koruny easily. The basic source is the banks. There are also exchange offices. The post office and hotels also provide you with the service. Avoid the black market dealers and questionable sources. Counterfeiting is not uncommon. The Czech Republic also has ATMs or ABMs across most of the country.
Protecting Your Currency
Crime rates are no longer low in the Czech Republic. Many petty crimes, particularly pickpocketing and purse snatching and even major violent crime are on the rise. After dark and in tourist areas are popular for criminals. Main railway stations are also a source of petty crime. Do try to be alert and be vigilant in these areas. One particular place of concern is Prague Castle. Tourists on Tram 22 and subway stations in the area become targets of thieves. Be wary if someone jostles you or becomes too close to your valuables.
Using Your Czech Republic Koruny
You should use koruny whenever possible. Purchase traditional products with it, including crystal, Moser cut glass, porcelain and Bohemian garnet. Pay for your Pilsner beer and other local brews with the official tender.
Travel Tips and Warnings
- Although crime against tourists is on the rise, the Republic is a stable country to visit.
- Enjoy your visit to Prague Castle and admire the city’s Baroque buildings.
- Make a pilgrimage to the former concentration camp at Terezin.
- Go to the spa at Karlovy Vary.
- Enter the Capuchin Monastery Crypt in Moravia and the 1307 Church of the Holy Spirit in Hradec Králové.
Overview
The
Czech Republic is a thriving new nation with an ancient history. Once
part of Czechoslovakia, the country is adapting well to capitalism. It
will soon use the Euro as its coinage.
For travel information see www.czechtourism.com.
Currency Summary
Current currency: koruna/ koruny formally the koruna česka or the koruna crown
100 hallers equals 1 koruny.
Coins: (10, (20), and 50 hallers; 1, 2, 5, 10, 20 and 50 koruny
Banknotes: 20, 50, 100, 200, 500, 1,000, 200, and 5,000-koruny