USDCZK PROFILE
CZK is the currency abbreviation for the Czech koruna, the official legal tender for the Czech Republic. One koruna is comprised of 100 haléřů. The Czech Republic is part of the European Union (EU) and so is legally bound to adopt the common euro currency eventually, although this does not appear to be imminent.
The word koruna derives from the word for “crown”, adopting similar etymology to other regional monies such as the kroner used in Scandinavian countries. As of December 2020, 1 CZK is equal to US $0.046.
- The Czech koruna (CZK) is the official currency of the Czech Republic.
- The CZK began circulation in 1993 after the break up of the Soviet Union in 1991, where it was issued at par to the previously-used Czechoslovakia koruna.
- While the Czech Republic is a member of the EU, it has not adopted the euro as its currency, and plans to do so are on hold. In fact, some believe the country may eventually exit the EU entirely.