Czechoslovak Hard Koruna

The CSK, or Ceska koruna, is the currency of the Czech Republic. It is divided into 100 haleru and is pronounced "chay-skay kaw-roo-nah". The CSK has been the currency of the Czech Republic since 1993, when it replaced the Czechoslovak koruna. The ISO 4217 code for the Czech koruna is "CZK". The Czech koruna is one of the few European currencies that did not experience a major drop in value during the global financial crisis of 2008-2009. In fact, the koruna actually gained value against the euro during this time. However, since 2010 the koruna has been on a gradual decline, and as of 2016 it is worth about one-fifth of a euro. The Czech koruna is a freely convertible currency, meaning that there are no restrictions on its purchase or sale on foreign exchange markets. This makes the koruna a popular choice for investors looking for a relatively stable currency. The Czech Republic is a member of the European Union but does not use the euro as its currency. The Czech government has no plans to adopt the euro in the near future.