The Slovak koruna was established 27 years ago. It ended with the advent of the euro

The Slovak currency (SKK) became the official currency in Slovakia 27 years ago, on February 8, 1993, when the agreement on monetary union with the Czech Republic expired. After the division of the common state of the Czechs and Slovaks, the Slovak koruna replaced the then federal currency with the Czechoslovak koruna (CZK). On the day of the currency separation, the first Slovak coin with a nominal value of 10 crowns was also put into circulation.

Slovak twenty crowns

Slovak twenty crowns Author: NBS

The changeover to the Slovak koruna took place temporarily before the issue of new banknotes solved by using ringed Czechoslovak banknotes. The original Czechoslovak banknotes were marked with stamps with the Slovak state the name, the name of the Slovak Republic and the relevant face value. National Bank of Slovakia (NBS) in cooperation with commercial banks it was circulating more during January and a few days in February than 120 million banknotes of the former federal currency.

The Slovak koruna was divided into 100 haliers. Basic series of Slovak circulation coins consisted of coins with denominations of 10, 20 and 50 haliers and 1, 2, 5 and 10 Slovak crowns. After December 31, 2003, the 10-haler a 20-haler coins were withdrawn from circulation.

The first banknote was fifty

The first Slovak koruna banknote with a nominal value of SKK 50 went into circulation received on August 29, 1993. By the end of the year, it was gradually followed by issues another four types – 20 SKK, 100 SKK, 500 SKK and 1,000 SKK. The complete issue was concluded in 1995 with the issue of SKK 200 and SKK 5,000 banknotes. Subsequent issues brought only minor adjustments to the graphics as well colors and new banknotes have been added to the banknotes, which increased their security. At the turn of the millennium, the National Bank also issued special limited edition commemorative banknotes on occasion the arrival of the year 2000.

The last flaked federal banknote worth CZK 500 stopped at in our territory on 10 January 1994 and its replacement was possible only until end of March of the same year. Any other exchanges around Czechoslovak banknotes were no longer possible.

On the day of monetary separation, February 8, 1993, was taken over by the National Bank of Slovakia from the former State Bank of Czechoslovakia also the exchange rate determination system Slovak koruna to freely convertible currencies. It was a five-part currency basket (USD, DEM, ATS, GBP, FRF) and daily exchange rate fixing system. The course Slovak koruna was designated as fixed by the Slovak Central Bank.

In the summer of the following year, the NBS joined only the currency basket of two currencies, in which 60% were the then German mark and 40% the American mark dollar, which in percentage reflected the monetary structure of the realized foreign trade of the Slovak Republic.

Floating crown exchange rate

The Slovak Central Bank canceled the peg of the Slovak currency to the monetary currency basket on 2 October 1998 and introduced a floating koruna exchange rate. The NBS stopped guarantee a fixed regime and the exchange rate of the Slovak koruna began to unfold freely depending on supply and demand in the interbank market.

The Slovak koruna disappeared a few days after Slovakia’s entry into the eurozone 16 January 2009, at the end of its dual circulation with the euro and exclusive legal tender for all payments on Euro banknotes and coins became the territory of the Slovak Republic.

The information comes from www.nbs.sk a SITA archive.

The Slovak currency (SKK) became the official currency in Slovakia 27 years ago, on February 8, 1993, when the agreement on monetary union with the Czech Republic expired. After the division of the common state of the Czechs and Slovaks, the Slovak koruna replaced the then federal currency with the Czechoslovak koruna (CZK). On the day of the currency separation, the first Slovak coin with a nominal value of 10 crowns was also put into circulation.

Slovak twenty crowns

Slovak twenty crowns Author: NBS

The changeover to the Slovak koruna took place temporarily before the issue of new banknotes solved by using ringed Czechoslovak banknotes. The original Czechoslovak banknotes were marked with stamps with the Slovak state the name, the name of the Slovak Republic and the relevant face value. National Bank of Slovakia (NBS) in cooperation with commercial banks it was circulating more during January and a few days in February than 120 million banknotes of the former federal currency.

The Slovak koruna was divided into 100 haliers. Basic series of Slovak circulation coins consisted of coins with denominations of 10, 20 and 50 haliers and 1, 2, 5 and 10 Slovak crowns. After December 31, 2003, the 10-haler a 20-haler coins were withdrawn from circulation.

The first banknote was fifty

The first Slovak koruna banknote with a nominal value of SKK 50 went into circulation received on August 29, 1993. By the end of the year, it was gradually followed by issues another four types – 20 SKK, 100 SKK, 500 SKK and 1,000 SKK. The complete issue was concluded in 1995 with the issue of SKK 200 and SKK 5,000 banknotes. Subsequent issues brought only minor adjustments to the graphics as well colors and new banknotes have been added to the banknotes, which increased their security. At the turn of the millennium, the National Bank also issued special limited edition commemorative banknotes on occasion the arrival of the year 2000.

The last flaked federal banknote worth CZK 500 stopped at in our territory on 10 January 1994 and its replacement was possible only until end of March of the same year. Any other exchanges around Czechoslovak banknotes were no longer possible.

On the day of monetary separation, February 8, 1993, was taken over by the National Bank of Slovakia from the former State Bank of Czechoslovakia also the exchange rate determination system Slovak koruna to freely convertible currencies. It was a five-part currency basket (USD, DEM, ATS, GBP, FRF) and daily exchange rate fixing system. The course Slovak koruna was designated as fixed by the Slovak Central Bank.

In the summer of the following year, the NBS joined only the currency basket of two currencies, in which 60% were the then German mark and 40% the American mark dollar, which in percentage reflected the monetary structure of the realized foreign trade of the Slovak Republic.

Floating crown exchange rate

The Slovak Central Bank canceled the peg of the Slovak currency to the monetary currency basket on 2 October 1998 and introduced a floating koruna exchange rate. The NBS stopped guarantee a fixed regime and the exchange rate of the Slovak koruna began to unfold freely depending on supply and demand in the interbank market.

The Slovak koruna disappeared a few days after Slovakia’s entry into the eurozone 16 January 2009, at the end of its dual circulation with the euro and exclusive legal tender for all payments on Euro banknotes and coins became the territory of the Slovak Republic.

The information comes from www.nbs.sk a SITA archive.