Czech money

(Kristian ;-))

General information

Even though we are part of EU we still do not have € as the official currency. The official currency is called Koruna Česká (Czech koruna aka Czech Crown). Its abbreviation is CZK.

On January 22nd 2018 the exchange rate was € 1 = CZK 25,4 and $ 1 = CZK 20,75.

One Koruna consists from 100 "haléř" (farthings). Even though you can still see most of the prices in shops with these farthings (e.g. CZK 12,90) - physically they do not exist any more. (The last coin of 50 farthings was taken from the circulation on 1st of September 2009.) The prices are so rounded up or down in the total. For instance you buy three items with the prices 25,70 + 17,30 + 14.90 = 57,90 ≐ 58. (Unless you pay by CC, then is its exact amount of money..)

The smallest coin is CZK 1. The other coins are 2, 5, 10, 20 & 50. (Few years ago we used to have 20  & 50 as a note too, but they say it is cheaper to make them from metal then to print them.) The notes are 100, 200, 500, 1.000, 2.000 & 5.000.

🙂  If you want to have all the examples of all the coins and notes you would have CZK 8.888. ("8" is btw, really important date in Czech history.)

How to recognize fake money

First of all you can google how do they look like and secondly - the fact you are reading this article means that you are not as naïve that you would ever even think of that, but - do not change the money on the streets.

Our notes have as well 8 (funny, again number eight) different protective elements:  

• Watermark
• Windowed thread with microtext
• Coloured fibres
• Front-to-back register
• Latent image 
• Colour-shifting ink
• Iridescent strip
• Microtext

(More details here.)

Funny facts

We used to have really strong sugar producer lobby back in time when they were solving the name of Czechoslovakian currency, so one of the suggestion for that was "beet root". So the prices could be here like CZBR. :D

When you turn 200 note, the hands look like bottom and the back. When I was at the elementary school this was really something! 

The word dollar comes from old Czech silver currency (16th century) called tolar.

From CZK 20 to CZK 5.000 they have famous personality on them. What is quite interesting is these personalities are sorted chronologically from the oldest one to the youngest one. The first one is Saint Václav (Wenceslas). - Yes, the one from the Christmas carol. But he was a duke, btw. And the last one the first president of Czechoslovakia Tomáš Garrigue Masaryk. 

COINS:

• CZK 1 
  
• CZK 2 
• CZK 5
• CZK 10 
• CZK 20 
• CZK 50

NOTES:

• CZK 100 (Charles the IV, the most popular king here, 13??-1376)
• CZK 200 (Jan Ámos Komenský, .....
• CZK 500
• CZK 1.000
• CZK 2.000
• CZK 5.000

All of these personalities (on the notes) were painted by Oldřich Kulhánek, who is a Czech academic painter and a graphic designer. (And all of them have his eyes!) 

Exploring the Czech Currency: A Guide to the Czech Koruna

The Czech Republic, a beautiful country in Central Europe known for its historic cities, picturesque landscapes, and rich cultural heritage, uses the Czech koruna (CZK) as its official currency. Whether you are a traveler planning a visit to Prague or someone interested in global currencies, understanding the Czech koruna can be very useful. This guide will provide you with everything you need to know about the Czech currency.

1. History of the Czech Koruna

The Czech koruna, abbreviated as CZK and often symbolized as Kč, has a rich history. It was introduced on February 8, 1993, following the peaceful dissolution of Czechoslovakia, which split into the Czech Republic and Slovakia. Prior to this, the country used the Czechoslovak koruna. The Czech National Bank (Česká národní banka - ČNB) is the central bank responsible for issuing the currency.

2. Coins and Banknotes

The Czech koruna is subdivided into 100 haléřů, although haléř coins are no longer in use due to their low value and high production cost. The currency is available in the following denominations:

Coins:

• 1 Kč
• 2 Kč
• 5 Kč
• 10 Kč
• 20 Kč
• 50 Kč

Banknotes:

• 100 Kč
• 200 Kč
• 500 Kč
• 1,000 Kč
• 2,000 Kč
• 5,000 Kč

Each coin and banknote features unique designs that reflect significant aspects of Czech history, culture, and notable figures. For example, the 100 Kč banknote features Charles IV, a Holy Roman Emperor and King of Bohemia, while the 1,000 Kč banknote depicts František Palacký, a prominent Czech historian and politician.

3. Using the Czech Koruna

When visiting the Czech Republic, it's essential to know how to handle the local currency. Here are some practical tips:

• Exchanging Money: It's advisable to exchange money at banks or official exchange offices to get better rates and avoid potential scams. Many exchange offices in tourist areas may have unfavorable rates and hidden fees.

• ATMs and Credit Cards: ATMs are widely available in cities and towns, and they typically offer competitive exchange rates. Most places in the Czech Republic accept major credit and debit cards, but it's always good to have some cash on hand, especially in smaller towns or when visiting local markets.

• Tipping: In restaurants, it is customary to round up the bill or leave a 10% tip for good service. In bars, taxis, and other service industries, rounding up to the nearest convenient amount is generally appreciated.

4. Currency Exchange Rates

The exchange rate of the Czech koruna fluctuates based on economic conditions, both domestically and internationally. As of the latest information, 1 USD is approximately 22-24 CZK, and 1 EUR is around 25-27 CZK. It's wise to check the current exchange rates before traveling or making large transactions.

5. Economic Overview

The Czech Republic has a stable and growing economy, and the Czech koruna is considered one of the more stable currencies in Central Europe. The country is a member of the European Union but has not adopted the euro, preferring to retain its national currency. The Czech economy is diverse, with significant contributions from industries such as automotive, engineering, electronics, and tourism.

6. Future of the Czech Koruna

There has been ongoing debate about whether the Czech Republic should adopt the euro. While some political and economic factions support the change, citing potential benefits such as reduced transaction costs and increased economic stability, others argue for the advantages of maintaining the koruna, including greater control over national monetary policy. As of now, there are no immediate plans to switch to the euro.

Conclusion

The Czech koruna is a symbol of the Czech Republic's national identity and economic independence. Understanding its history, denominations, and practical usage can enhance your experience when visiting the country. Whether you are handling money for day-to-day expenses or as a collector of global currencies, the Czech koruna offers a fascinating glimpse into the rich cultural and economic fabric of the Czech Republic.