HISTORY OF CZECHOSLOVAK CURRENCY

The so-called Monetary Act of 10 April 1919 introduced the Czechoslovak koruna (CZK) and stipulated that "one Czechoslovak koruna counts as one Austro-Hungarian koruna". The current name "koruna" has been adopted. Another way to implement a monetary restriction and to gradually appreciate the new currency was the asset benefit and the increase in assets under the law of April 8, 1920, which Rašín considered the "koruna of reform policy." It was supposed to drain the inflationary money that came into circulation during the war. Revenue was expected in the range of CZK 20-25 billion. However, this plan failed, there were tax evasions and problems with the collection of the benefit. The first money of the new state was a one hundred koruna treasury note dated April 15, 1919. The first coins were twenty halers and fifty halers issued in February 1922. The first koruna coin was put into circulation in 1922. The first banknote was twenty koruna dated October 1, 1926, which went to circulation only in 1927.