The Czechoslovak koruna was the official money of Czechoslovakia for much of the 20th century. Its name means "Crown" and in the two official languages it was known respectively as Koruna československá and Koruna československá (sometimes written with a hyphenated form). The unit used the international code CSK and local abbreviations such as Kčs; one koruna was equal to 100 subunits called haléř (Czech) or halier (Slovak). The simple abbreviation "h" was placed after amounts to denote these subunits.
Characteristics and denominations
The koruna existed in both coin and banknote form. Coins were minted in a range of values and metals over the decades, and designs typically displayed national symbols, denomination numerals and sometimes portraits or stylized motifs. Banknotes varied in size and style with different series issued by central authorities; earlier designs reflected the new republican state after World War I, while later notes changed to reflect political and economic shifts.
Historical development
The currency was introduced following the creation of Czechoslovakia after World War I, replacing currencies of the former Austro-Hungarian Empire. It continued through the interwar republic, wartime occupations and postwar reconstruction, with multiple reissues and reforms along the way as the state's political and economic circumstances changed. In the communist era the monetary system experienced state-led reforms; later in the late 20th century, economic transformation brought further adjustments to the currency and its management.
End of the Czechoslovak koruna and legacy
When Czechoslovakia peacefully dissolved in 1993, the Czechoslovak koruna was succeeded by two separate national currencies, the Czech koruna and the Slovak koruna. Both successor currencies retained the historical "koruna" name for continuity. Today the Czechoslovak koruna remains of interest to historians, collectors and economists as a reflection of the country’s changing institutions and identity. For a general reference on what a "currency" is, see currency, and for context about the country that issued it, see Czechoslovakia.