2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Few people know what the national currency is in the Czech Republic. Many are mistaken in thinking that this country has the euro, as it is part of the Eurozone. But the Republic, although it joined the European Union, did not abandon the traditional state currency.
A Brief History
After the collapse of Czechoslovakia in 1993, the Czech koruna began to be used in the country, and the Slovak koruna in Slovakia. At first, the coat of arms and other state attributes of the Czech Republic were simply applied to the old banknotes. Only after some time did new money begin to be printed.
In 2008, all Geller coins were withdrawn from circulation. Only coins worth more than one crown remained.
Description
The currency of the Czech Republic is divided into 100 hellers, which used to be issued in the form of coins, but were withdrawn from circulation. Now they are used only for cashless payments.
Today, coins in denominations from 1 to 50 kroons and banknotes in denominations from 100 to 5000 kroons are in circulation.
The Czech currency is designated on the world financial market as CZK. The issue of banknotes is handled by the National Bank of the Republic.
Czech exchange rate
CZK is not in high demand on the international marketfinance, and the country does not play a big role on the world stage. For these and many other reasons, the national currency of the state has a low value.
The price of the Czech currency against the Russian ruble is about 2.7 rubles to 1 crown. If we consider the reverse situation, then for one Russian ruble they will give approximately 0.37 crowns.
The ratio of the US dollar to CZK at the beginning of 2018 is approximately 1 USD=21 CZK. With the reverse exchange 1 to 0, $048.
For one euro you can get almost 25 and a half Czech crowns. Thus, one kroon contains about 0.04 euros.
Exchange operations and cashless payments
The Czech Republic is a developed and modern country, and the financial structure here is at a high level. Cashless payments are accepted in almost all supermarkets, shops, hotels and even public transport.
There are also many ATMs and branches of financial organizations, so there are no difficulties with cashing out funds. Exchange can be made at the airport, hotel or bank office.
Easiest to exchange euros, dollars and British pounds. They do not work with rubles everywhere. Considering that the commissions for the operation are not too high, you can exchange rubles for euros in Russia to make it easier upon arrival.
Interesting facts
The most widespread paper banknote in the country is 1000 crowns. It depicts a portrait of the famous and beloved historian and politician Frantisek Palacky. Therefore, inPeople called her "Palatsky". At the moment, there are about 130 million of these banknotes in circulation.
In 2008, the national currency of the Czech Republic for a short period took second place in the list of the "weakest" monetary units of the world. However, she quickly left this position, as the measures taken by the government bore fruit.
However, in the same year, the 1000 kroon note was recognized as the most secure and safe from counterfeiters.
Conclusion
The Czech Republic is one of the most beautiful and most attractive countries in Europe for tourism. In addition, many Russians emigrate here in the hope of finding a better life. Indeed, the indicators of the quality of life here are comparable to those in Western Europe.
Every year, millions of foreign tourists visit this small state. Quite a lot of citizens of the Russian Federation come here. Going on vacation or to work in the Czech Republic, you should find out more about the country's financial system and in particular its national currency.
The state, like the currency of the republic, has a rich history with many interesting facts. Therefore, it will be useful to know this for the general expansion of your erudition.
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