Slovak koruna

Slovak koruna
slovenská koruna (Slovak)
Coins 500 Sk
ISO 4217 code	SKK
Central bank	National Bank of Slovakia
Website	www.nbs.sk
User(s)	None, previously: Slovakia
Inflation	3.5%, December 2008
ERM
Since	28 November 2005
Replaced by €, cash	1 January 2009 (cash payments possible until 16 January 2009)
€ =	30.1260 Sk1
Band	15%
Subunit
1/100	halier
Symbol	Sk
halier	h
Plural	The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms.
Coins	50 h, 1 Sk, 2 Sk, 5 Sk, 10 Sk
Banknotes	20 Sk, 50 Sk, 100 Sk, 200 Sk, 500 Sk, 1000 Sk, 5000 Sk
This infobox shows the latest status before this currency was rendered obsolete.
1 The rate has changed twice. See article for details.

The Slovak koruna or Slovak crown (Slovak: slovenská koruna, literally meaning Slovak crown) was the currency of Slovakia between 8 February 1993 and 31 December 2008, and could be used for cash payment until 16 January 2009. It is no longer the official Slovak currency. The ISO 4217 code was SKK and the local abbreviation was Sk. The Slovak crown (koruna) was also the currency of the Nazi-era Slovak Republic between 1939 and 1945. Both korunas were subdivided into 100 haliers (abbreviated as "hal." or simply "h", singular: halier). The abbreviation is placed after the numeric value.

Slovakia switched its currency from the koruna to the euro on 1 January 2009, at a rate of 30.1260 korunas to the euro.

In the Slovak language, the nouns "koruna" and "halier" both assume two plural forms. "Koruny" and "haliere" appears after the numbers 2, 3 and 4 and in generic (uncountable) context, with "korún" and "halierov" being used after other numbers. The latter forms also correspond to genitive use in plural.

Koruna of 1939–1945

The koruna (Slovak: koruna slovenská, note the different word ordering from the modern koruna) was the currency of the Slovak Republic from 1939 to 1945. The Slovak koruna replaced the Czechoslovak koruna at par and was replaced by the reconstituted Czechoslovak koruna, again at par. Its abbreviation was Kčs.

Initially, the Slovak koruna was at par with the Bohemian and Moravian koruna, with 10 korunas = 1 Reichsmark. It was devalued, on 1 October 1940, to a rate of 11.62 Slovak korunas to one Reichsmark, while the value of the Bohemian and Moravian currency remained unchanged against the Reichsmark.

Coins

Main article: Coins of the Slovak koruna (1939–45)

In 1939, coins were introduced in denominations of 10 halierov, 5 and 20 korunas, with 20 and 50 haliers and 1 koruna added in 1940. The 10 and 20 haliers were bronze, the 50 haliers and 1 koruna cupronickel, the 5 korunas nickel and the 20 korunas were silver. In 1942, zinc 5 haliers were introduced and aluminium replaced bronze in the 20 haliers. Aluminium 50 haliers followed in 1943. Silver 10 and 50 korunas were introduced in 1944.

Compared to the pre-war Czechoslovak koruna, the Slovak koruna coins had an additional 50 Ks, the silver content of the 10 and 20 Ks coins was reduced from 700 ‰ to 500 ‰ and all but 5 Ks shrank in physical sizes. The designers were Anton Hám, Andrej Peter, Gejza Angyal, Ladislav Majerský and František Štefunko. Coins were minted in the Kremnica mint.

Banknotes

Main article: Banknotes of the Slovak koruna (1939-45)

In 1939, Czechoslovak notes for 100, 500 and 1000 korún were issued with SLOVENSKÝ ŠTÁT overprinted on them for use in Slovakia. That year also saw the introduction of 10 and 20 koruna notes by the government.

Modern koruna

In 1993, the newly independent Slovakia introduced its own koruna, replacing the Czechoslovak koruna at par.

Coins

In 1993, coins were introduced in denominations of 10, 20 and 50 haliers, 1, 2, 5 and 10 korunas. The 10 and 20 halier coins were taken out of circulation on 31 December 2003.

The obverse of the coins feature the coat of arms of Slovakia, with motifs from Slovak history on the reverses.

• 10 halierov (silver-coloured) - Octagonal wooden belfry from Zemplín (early 19th century A.D.) = 0.0033 €
• 20 halierov (silver-coloured) - the Kriváň peak in the High Tatras = 0.0066 €
• 50 halierov (copper-coloured) - Renaissance polygonal tower of Devín Castle = 0.0166 €
• 1 koruna (copper-coloured) - Gothic wooden sculpture of the Madonna with child (A.D. 1500) = 0.0332 €
• 2 koruny (silver-coloured) - Earthen sculpture of the sitting Venus of Hradok (4th millennium B.C.) = 0.0664 €
• 5 korún (silver-coloured) - Reverse of a Celtic coin of Biatec (1st century B.C.)-0.17 Euro = 0.166 €
• 10 korún (copper-coloured) - Bronze cross (11th century A.D.) = 0.332 €

Coins were exchangeable for euros at the National Bank of Slovakia until January 2, 2014.

Banknotes

At midnight on 31 December 1992, the Czechoslovak Republic bifurcated into the Czech Republic and the Slovak Republic. In 1993, the newly independent Slovakia introduced its own koruna, replacing the Czechoslovak koruna at par. Provisional banknotes were issued in denominations of 20, 50, 100, 500, and 1,000 korún by affixing stamps bearing the coat of arms of Slovakia and the denomination to Czechoslovak banknotes. The main motifs on the obverses of the banknotes represent important people living in the territory of the present Slovakia in various historical eras. On the reverses, these motifs are completed by depicting places where these people lived and were active.

Denomination	Value	Image		Main colour	Obverse	Reverse	Remark
20 korún 128 x 65 mm	€0.66			Green	Prince Pribina	Nitra/Neutra Castle
50 korún 134 x 68 mm	€1.66			Blue	Saints Cyril and Methodius	Dražovce church and the first seven letters of the Glagolitic alphabet
100 korún 140 x 71 mm	€3.32			Red	Madonna at Levoča church	St. Jacob's church in Levoča/Leutschau and city hall
200 korún 146 x 74 mm	€6.64			Green	Anton Bernolák (1762 – 1813), linguist and Catholic priest	Trnava in the 18th century	Introduced in 1995
500 korún 152 x 77 mm	€16.60			Brown	Ľudovít Štúr (1815 – 1856), leader of the Slovak national revival	Bratislava Castle and St. Michaels church
1000 korún 158 x 80 mm	€33.19			Purple	Andrej Hlinka (1864 – 1938), politician and Catholic priest	Madonna of Liptovké Sliace/Liptau church; St. Andrew's church in Ružomberok
5000 korún 164 x 82 mm	€165.97			Orange	Milan Rastislav Štefánik (1880 – 1919), politician and diplomat	Stefanik's grave on Bradlo Hill: Ursa Major constellation	Introduced in 1994

Slovak banknotes denominated in koruny can be exchanged for euros indefinitely.

Historical exchange rates

Historical exchange rates from 1999

The graph shows the value of the euro in korunas from 1999 to December 2008. As may be seen, the currency strengthened as Slovakia's economy did. The koruna joined the ERM II on 28 November 2005 at the rate of € = 38.4550 Sk with a 15% band. On 17 March 2007, this rate was readjusted to 35.4424 Sk with the same band, an 8.5% increase in the value of the koruna. On the same day, 1 euro traded at 33.959 Sk. The central rate of koruna was then adjusted once more on 28 May 2008 to 30.1260 with no change in the band.

See also

• Czechoslovak koruna
• Czech koruna
• Economy of Slovakia
• Slovak euro coins

External links

• ECB: The euro cash changeover in Slovakia (as of 1 January 2009)
• [1], [2], [3] (History of the Slovak koruna/crown and its predecessors at the website of the National Bank of Slovakia, parts 1, 2, 3)

Preceded by: Czechoslovak koruna Reason: independence Ratio: at par	Currency of Slovakia 1939 – 1945	Succeeded by: Czechoslovak koruna Reason: restoration of Czechoslovakia Ratio: ?
Preceded by: Czechoslovak koruna Reason: independence Ratio: at par	Currency of Slovakia 1993 – 2009	Succeeded by: Euro Reason: entry into Eurozone Ratio: 1 EUR = 30.1260 SKK