Czechoslovak koruna

The Czechoslovak crown ( in Czech and Slovak koruna Československé or koruna Česko - Slovenská ) was until 31 December 1992, the official currency of Czechoslovakia and until 7 February 1993, the currency of the Czech Republic and Slovakia.

Successor and predecessor

The unit of currency in Austria - Hungary until 1918 (abbreviated K), and since 1993 in Slovakia and the Czech Republic are also referred to as the "crown ". The currency of the First Slovak Republic (1939-1945) and the currency of the Protectorate of Bohemia and Moravia had this name (abbreviated K or K).

Smaller units

A Czechoslovak crown was respectively 100 pence ( Slovak: halier, Czech: Haler ) and the short description a " hal", the Czech Republic, "h " wrote in Slovakia.

Spelling

The official code of the currency was Kčs (until October 31, 1945 Kč), the ISO 4217 code was CSK. CSK comes Cesko - Slovenská koruna CZK and is the Czech crown.

As in the German-speaking world currency code to be written behind the denomination in the Czech and Slovak language (for example: 100 000 Kčs / 100, 000 Sk / 100 000 SKK / 100 hal ).

History

The crown was defined as the first gold-based currency introduced on 11 September 1892 in Austria - Hungary in this field (Austrian crown). After the establishment of Czechoslovakia in 1918 had to be quickly created a new monetary system, which differed from the inflation- prone currencies of the other newly formed countries. For the time being, however, were on the territory of the new state, the banknotes and coins of the Austro -Hungarian Bank further.

"The preparation for the currency separation were made entirely in secret and because of the Enabling Act of February 25, 1919 ECR Ges u Bdg. No. 84, the stamping of all circulating banknotes of the Austro -Hungarian Bank was decreed on 19 March 1919. Through Each State ... were ( they ) become money Czechoslovakia and the Treasury took these notes a gradual and swapped them around against Czechoslovak state notes. " (Quote by source Walter Simon )

It has been too a currency reform, which the Czechoslovak crown was created. ( Československé koruna, CZK / Kčs later ). The first banknotes came into circulation in the same year, 1922 was followed by the first own coins, which replaced the then still in force, former Austro-Hungarian nominal base. The old gold and silver crowns were gone since the war has long been practically out of circulation.

The crown currency was subject to the further course still several reforms and changes. For example, the Goldpartät was established by Act of 7 November 1929 44.85 mg per 1 CZK in commercial trade ( " gold exchange "). In the period from 1923 to about 1929, the crown was relatively stable in value, they fluctuated around an average of 15.36 to 16.37 Swiss francs per 100 crowns. The exchange rate against the Reichsmark was 0.85 in 1932.

Then joined in the time of WW2 an inflationary period at - where the crown is divided into the Slovak and the German occupation of the Protectorate of Bohemia and Moravia. A fairly radical reform took place in 1953 then. At that time, the Communist Party of Czechoslovakia had to contend with the problem of duplicate goods market: on the one hand there was a market with fixed prices for basic food - a remnant of the post- quota system, on the other hand, a free market, where goods were up to 8 times more expensive, but also of better quality. It was decided to carry out the currency reform on 1 June 1953 to distribute new banknotes, which had been printed in the USSR. The reform was prepared in a very short period of time and should be kept secret until the last minute, yet arrived information about a pending reform to the public and there was panic in the population. The night before the launch of the Czechoslovak President Antonín Zápotocký gave a televised address in which he denied any possibility of a currency reform and tried to calm the people, though he was aware that he lied to the nation. The next day were people (who were lucky enough not in the category of " capitalist element to fall" ) money worth up to 300 new crowns ( in the ratio 5 to 1 old crowns new crown) and the rest at a price of 50: 1 exchange. All insurance equities, government bonds and other securities have been declared worthless. The economic situation of many people deteriorated dramatically; there were many places to riots and demonstrations, for example, in Pilsen, where 472 people were arrested.

The parliaments of the Czech Republic and Slovakia adopted in early February of 1993, the laws on the currency separation, and on February 8, 1993, the Czechoslovak crown divided due to the dissolution of the Czechoslovak federation into two independent currencies - the Slovak koruna and the Czech crown. Initially, however, the bills of the Czechoslovak crown were still used, which were differentiated since 2 August 1993 first glued and then printed marks. Since the accession of Slovakia to the euro area on 1 January 2009, the Slovak crown is history.

There are 1 -, 2 -, 3 -, 5 -, 10 -, 20 -, 25 - and 50 lighter shaped pieces, as well as 1 -, 2 -, 3 -, 5 - and 10 crown pieces.

Swell

• Walter Simon: The financial services industry in the Czechoslovak Republic, German Association for -profit knowledge in Prague, July-September 1930 No. 617-19

• Günter Graichen: The money sign Czechoslovakia, transpress Publisher of Transportation 1983 Berlin, 1st Edition