What is the currency of the Czech Republic?

Czech Koruna

The Czech koruna (in English: Czech koruna) is considered the official currency in the Czech Republic, and in the Czech language it means: the Czech crown. This currency is symbolized by the symbol (Kč), and its international abbreviation is (CZK), while the small unit that makes up the koruna is called Heller, which is symbolized by the symbol (h); One crown consists of (100) hellers, and it should be noted that the denominations of hellers are no longer used in the Czech Republic since 2008 AD.

The Czech Republic is one of the countries of the European Union, but it has not yet become a member of the Euro. Because it has not adopted the euro as its official currency, and this is as of the date of writing this article, and on another level, the issue of the Czech Republic eventually adopting the euro is still expected despite its proposal in recent years of the idea of ​​leaving the European Union completely.

Denominations of the Czech Koruna

The Czech National Bank is considered the body responsible for issuing currencies in the Czech Republic, in which the Czech koruna is dealt with through banknotes and coins, noting that coins are classified into six categories: (1), (2), and (5). , (10), (20), and (50) krona. As for the krona denominations of banknotes, they are represented in seven bank notes: fifty krona (50Kč), one hundred krona (100Kč), two hundred krona (200Kč), and five hundred krona. One thousand krona (500Kč), one thousand kroner (1000Kč), two thousand kroner (2000Kč), and five thousand kroner (5000Kč).

Czech Republic coin design

Czech koruna banknotes vary in shape depending on their value as follows:

• 100 kroner notes: This paper denomination was issued in 1997 AD, and it bears an engraving of a portrait of the Bohemian King Karl IV (in English: Karel IV), the second king of Bohemia, while the letter (K), which symbolizes the first letter of his name, appears on its back.
• 200 kroner notes: This banknote was issued in 1998 AD, and bears an engraving of the image of the Czech philosopher Jan Amos Komensky, while the image of a book is printed on the other back of the currency.
• 500 kroner notes: This paper denomination was issued in 1997 AD, and it bears an engraving of a picture of the Czech writer Bozena Nemcova.
• 1,000 kroner notes: This paperback was issued in 1996 and includes a portrait of the Czech historian Frantisek Palacky.
• 2,000 kroner notes: This paper denomination was issued in 1999, and one side of it is decorated with a picture of Czech opera singer Ema Destinova, while the other side is decorated with a picture of a harp.
• 5,000 kroner notes: This paper denomination was issued in 1999, and it bears a picture of Czech politician Tomas Masaryk.

Czech National Bank

The Central Bank of the Czech Republic was established in accordance with the Constitution of the Republic. This legal entity, whose headquarters are located in Prague, is considered part of the European System of Central Banks, in addition to being part of the European System of Financial Supervision. The National Bank’s regional offices are spread in several cities such as Ústí nad Labem, Hradec Králové, Ostrava and other Czech cities where the activities of the Central Bank are carried out on the basis of law.

The functions of the National Bank of the Czech Republic are to supervise the Czech financial market, and its duty to achieve and maintain price stability in this market is the main goal of its establishment, in addition to its contributing role in creating conditions for sustainable economic growth in the country, and its role in issuing securities is not overlooked. Cash and coins to be pumped into the market and to supervise the currency circulation process. The National Bank is responsible for supervising the entire banking sector, the capital market, exchange offices, pension funds in the country and other vital matters related to the financial market and economy in the country.