The Bohemian and Moravian koruna replaced the Czechoslovak koruna at par and was replaced by the reconstituted Czechoslovak koruna, again at par. It was pegged to the Reichsmark at a rate of 1 Reichsmark = 10 koruna and was initially equal in value to the Slovak koruna, although this currency was devalued in 1940.
Czechoslovak banknotes for 1 and 5 korun were stamped (and later printed) with "Protektorat Böhmen und Mähren" over "Protektorát Čechy a Morava," and subsequently issued in Bohemia and Moravia beginning on February 9, 1940.  These were followed by regular government issues of 1, 5, 50 and 100 korun in 1940, 10 korun in 1942, and 20 and 50 korun in 1944. Nationalbank für Böhmen und Mähren in Prag (National Bank for Bohemia and Moravia in Prague) introduced 500 and 100 korun notes in 1942, followed in 1943 by overprinted Czechoslovak 5000 korun notes. In 1944, the National Bank issued regular 5000 korun notes.