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Slovak koruna

Currency of Slovakia from 1993 to 2008

Summary

Currency of Slovakia from 1993 to 2008

Field	Value
local_name1	slovenská koruna
local_name_lang1	sk
image_1	Web Biatec.jpg
image_title_1	The 5 korún coin (right) was based on a Celtic coin of Biatec (left).
image_title_2	500 Sk
iso_code	SKK
date_of_introduction	8 February 1993
date_of_withdrawal	31 December 2008
using_countries	None, previously:

inflation_rate	3.5%, December 2008
ERM_since	28 November 2005
euro_replace_non_cash	1 January 2009
euro_replace_cash	16 January 2009
replaced_currency	Czechoslovak koruna
ERM_fixed_rate	30.1260 Sk1
ERM_band	15%
subunit_ratio_1
subunit_name_1	halier
symbol	Sk
symbol_subunit_1	h
plural	koruny (nominative)
used_coins	10 h, 20 h, 50 h, 1 Sk, 2 Sk, 5 Sk, 10 Sk
used_banknotes	20 Sk, 50 Sk, 100 Sk, 200 Sk, 500 Sk, 1000 Sk, 5000 Sk
issuing_authority	National Bank of Slovakia
issuing_authority_website
obsolete	yes
footnotes	1 The rate has changed twice. See article for details.

The Slovak koruna or Slovak crown (, 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 koruna was 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 per euro. Both currencies could still be used for a two-week transitional period until 16 January 2009.

In Slovak, the nouns koruna and halier both have two plural forms. "Koruny" and haliere appear after the numbers 2, 3 and 4 and in generic (uncountable) context, with korún and halierov being used after other numbers. The latter forms are genitive.

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. In 1996 the 50 halier coin was made 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 ( 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.

Coins of the Slovak koruna (1993)
Designer: Drahomír Zobek	Image	Value	Technical parameters	Description	Issued
from	Diameter
(mm)	Mass
(g)	Composition	Edge	Obverse	Reverse
[[File:Slovakian 10 Halier (front).png	100x100px]]	10 h	17.00	0.72		Aluminium: 98%
Magnesium: 2%	Smooth	Coat of arms;
year of issue;
lettering:
*SLOVENSKÁ
REPUBLIKA*	Kožuchovce
church; value	1993–2003
[[File:Slovakian 20 halier (front).png	100x100px]]	20 h	19.50	0.95	Aluminium: 96%
Magnesium: 4%	Reeded	Kriváň; value
[[File:Slovakian 50 halier (front) (14827).png	100x100px]]	50 h	22.00	1.20	Aluminium: 98%
Magnesium: 2%	Smooth	Devín Castle; value	1993–1995
[[File:Slovakian 50 halier (front).png	100x100px]]	18.75	2.80		Copper-plated iron	Interrupted
reeding	1996–2008
[[File:Slovakian 1 koruna (front).png	100x100px]]	1 Sk	21.00	3.85		Copper-tin-plated
iron	Reeded	Madonna and child;
value	1993–2008
[[File:2Sk 1995 revers.jpg	100x100px]]	2 Sk	22.50	4.40		Nickel-plated iron	Ornamental	Venus (Nitriansky Hrádok);
value
[[File:Slovakian 5 koruna (front).png	100x100px]]	5 Sk	24.75	5.40	Reeded	Biatec; value
[[File:Slovakian 10 koruna (front).png	100x100px]]	10 Sk	26.50	6.60		Copper: 92%
Aluminium: 6%
Nickel: 2%	Ornamental	Encolpion cross;
value

Banknotes

At midnight on 31 December 1992, the Czech and Slovak Federative 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. Later that year Slovakia issued its own set of 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.

Banknotes of the Slovak koruna (1993–1995)
Designer: Jozef Bubák	Image	Value	Euro
equivalent	Dimensions
(mm)	Main
colour	Description	Issued
from	Withdrawn	Obverse	Reverse
	20 Sk	€0.66	128 x 65	Green	Prince Pribina	Nitra Castle	1993–2006	2009
	50 Sk	€1.66	134 x 68	Blue	Saints Cyril and Methodius	Dražovce church;
Glagolitic alphabet	1993–2005
	100 Sk	€3.32	140 x 71	Red	Madonna
(Basilica of St. James)	Basilica of St. James and
Old Townhall, Levoča	1993–2004
	200 Sk	€6.64	146 x 74	Turquoise	Anton Bernolák	City Tower;
Trnava in 18th century	1995
1999–2006
	500 Sk	€16.60	152 x 77	Brown	Ľudovít Štúr	Bratislava Castle;
Michael's Gate	1993–1996
2003–2006
	1000 Sk	€33.19	158 x 80	Purple	Andrej Hlinka	Madonna (Church of St. Šimon and Judah),
Liptovské Sliače;
St. Andrew's Church, Ružomberok	1993–1996
1999–2007
	5000 Sk	€165.97	164 x 82	Orange	Milan Rastislav Štefánik	Stefanik's grave, Bradlo Hill;
Ursa Major	1995
1999–2003

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 33.8545 with no change in the band.

Notes

References

[https://www.cia.gov/the-world-factbook/countries/slovakia/ CIA - The World Factbook -- Slovakia]. 15 May 2007; accessed 19 May 2007.
(2012). "The Banknote Book". www.BanknoteNews.com.
(2005-11-28). "Slovak Koruna Included in the ERM II". [[National Bank of Slovakia]].
European Commission. "Exchange Rate Mechanism II (ERM II)".
(2007-03-17). "Slovakia, EU Raise Koruna's Central Rate After Appreciation". [[Bloomberg L.P..
(2008-05-28). "Slovakia Wins EU Approval to Let Koruna Strengthen". [[Bloomberg L.P..

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

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