Czech Koruna

Czech Republic's Currency: The Koruna The Czech Republic's official currency is the Koruna (CZK). One koruna is divided into 100 haléřů, and coins come in denominations of 1, 2, 5, 10, 20 and 50 haléřů, and 1, 2, 5 and 10 korun. Banknotes come in denominations of 20, 50, 100, 200, 500 and 1000 korun. The word "koruna" means "crown" in English, and indeed, the Czech Koruna was once the currency of the Kingdom of Bohemia. The first Czechoslovak koruna was introduced in 1918 after the breakup of the Austro-Hungarian Empire. The currency was replaced by the Communist Czechoslovak koruna in 1953, but after the fall of Communism in 1989, the original koruna was reintroduced. Since the Czech Republic is a member of the European Union, the country is required to adopt the Euro as its official currency at some point. However, no date has been set for this transition, and for the time being, the Koruna remains the official currency of the Czech Republic.