Economy of Slovakia
Slovakia switched its currency from the Slovak crown (SK-slovenská koruna) to the Euro on 1 January 2009, at a rate of 30.1260 korunas to the euro.
Czech koruna
In 1892, the Austro-Hungarian krone replaced the gulden, at the rate of one gulden equaling two kronen (which is also the reason why the 10-koruna coin is still nicknamed "pětka" or "the five" by the Czechs). The name ""krone"" was invented by the emperor, Franz Joseph I of Austria. After Austria-Hungary dissolved in 1918, the only successor state that kept the name of the currency, the koruna, was Czechoslovakia. In the late 1920s, the Czechoslovak koruna was the hardest currency in Europe. During the Second World War, the currency on the occupied Czech territory was artificially weakened. The Czechoslovak koruna was restored after the war. It underwent a highly controversial monetary reform in 1953.