Slovak koruna

Slovak koruna

slovenská koruna (Slovak)
File:Slovakcoinssecondrepublic.jpg File:500sk hlava.jpg Coins 500 Sk
ISO 4217
Code	SKK
Unit
Plural	The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms.
Symbol	Sk‎
Denominations
Subunit
1/100	halier
Symbol
halier	h
Banknotes	20 Sk, 50 Sk, 100 Sk, 200 Sk, 500 Sk, 1000 Sk, 5000 Sk
Coins	50 h, 1 Sk, 2 Sk, 5 Sk, 10 Sk
Demographics
User(s)	None, previously: Slovakia
Issuance
Central bank	National Bank of Slovakia
Website	www.nbs.sk
Valuation
Inflation	3.5%, December 2008
EU Exchange Rate Mechanism (ERM)
Since	28 November 2005
Replaced by euro, cash	1 January 2009 (cash payments possible until 16 January 2009)
1 € =	30.1260 Sk1
Band	15%
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. 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

Set of Slovak 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.In 1996 the 50-halier coin was smaller and instead of aluminium it was made with copper plated steel.

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) = €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 (c. 1500) = €0.0332
• 2 koruny (silver-coloured) – Earthen sculpture of the sitting Venus of Hradok (4th millennium BC) = €0.0664
• 5 korún (silver-coloured) – Reverse of a Celtic coin of Biatec (1st century BC) = €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	Dimensions (millimetres)	Value	Image		Main colour		Obverse	Reverse	Remark
20 korún	128 x 65	€0.66	File:SKK20 obverse.jpg	File:SKK20 reverse.jpg		Green	Prince Pribina	Nitra/Neutra Castle
50 korún	134 x 68	€1.66	File:50 korunova bankovka Slovenskej republiky.jpg	File:Rubova strana 50 korunovej bankovky Slovenskej republiky.jpg		Blue	Saints Cyril and Methodius	Dražovce church and the first seven letters of the Glagolitic alphabet
100 korún	140 x 71	€3.32	File:SKK100 obverse.jpg	File:SKK100 reverse.jpg		Red	Madonna at Levoča church	St. Jacob's church in Levoča/Leutschau and city hall
200 korún	146 x 74	€6.64	File:200 korunova bankovka Slovenska republika.jpg	File:Rubova strana 200 korunovej bankovky Slovenska republika.jpg		Turquoise	Anton Bernolák (1762 – 1813), linguist and Catholic priest	Trnava in the 18th century	Introduced in 1995
500 korún	152 x 77	€16.60	File:500sk hlava.jpg	File:500sk spod.jpg		Brown	Ľudovít Štúr (1815 – 1856), leader of the Slovak national revival	Bratislava Castle and St. Michaels church
1000 korún	158 x 80	€33.19	File:1000 KS lic.jpg	File:1000 KS rub.jpg		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	€165.97	File:5000sk hlava.jpg	File:5000sk spod.jpg		Orange	Milan Rastislav Štefánik (1880 – 1919), politician and diplomat	Stefanik's grave on Bradlo Hill: Ursa Major constellation	Introduced in 1994
These images are to scale at 0.7 pixel per millimetre. For table standards, see the banknote specification table.

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 23.8545 with no change in the band.

See also

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

References

• Krause, Chester L.; Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501.
• Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
• Biľak, M. - Jízdný, M. (1988). Zberatelský katalóg mincí Československa. Československá Numizmatická Spoločnosť, Pobočka Košice.{{cite book}}: CS1 maint: multiple names: authors list (link)

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