| Czechoslovak Koruna |
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On February 8 , 1993 it was replaced by the Czech Koruna and the Slovak Koruna , both at par. The (last) : ''haléřů''; Slovak, singular: ''halier'', plural: ''halierov''). In both languages, the abbreviation h was used. The acronym was placed behind the numeric value. HISTORY A currency called the ''krone'' in German was introduced in Austria-Hungary on 11 September , 1892 , as the first modern gold-based currency in the area. After the creation of an independent Czechoslovakia in 1918 , an urgent need for establishing a new currency system, that would distinguish itself from the currencies of the other newly born countries suffering from inflation, emerged. The next year, on 10 April , 1919 , a currency reform took place, defining the new ''koruna'' as equal in value to the Austro-Hungarian krone. The first banknotes came into circulation the same year, the coins three years later, in 1922 . The koruna circulated until 1939, when separate currencies for Bohemia And Moravia and Slovakia were introduced, at par with the Czechoslovak koruna. These were the Bohemia And Moravia Koruna and the Slovak Koruna . The Czechoslovak koruna was reestablished in 1945, replacing the two previous currencies at par. on a 100 Kčs banknote released right before the Velvet Revolution in 1989 ]] The koruna went through a number of further reforms. A particularly drastic one was undertaken in , where 472 people were arrested. on a Czechoslovak 20 Koruna banknote]] In 1993 , in accordance with the dissolution of the Czechoslovak federation, the Czechoslovak koruna split into two independent currencies - the Slovak koruna and the Czech koruna. Both currencies will be replaced by the Euro as quickly as their respective countries can meet the criteria for economic convergence with the rest of the European Union . SEE ALSO |
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