To date, the official currency of Slovakia is the euro. But back in 2009, the Slovak krona was used on the territory of the state. Slovakia became independent in 1993, and then the national currency was launched. It was used until the state switched to European currency and joined the so-called eurozone.
Currency History of Slovakia
Since the 11th century, the Slovak state has been part of Hungary. Not surprisingly, the first currency in this country was the Hungarian forint. From 1867 to 1918, Slovakia was part of the Austro-Hungarian Empire and Austrian guilders were used in its circulation. This continued until 1892, when the Austro-Hungarian kroner was introduced into circulation.
After the demise of the Austro-Hungarian Empire in 1918, a united state was formed - Czechoslovakia. A new monetary unit was introduced into circulation, which was called the Czechoslovak Krone. Already in 1938, as a result of the Munich Agreement, or, as it is also called, the “Munich Agreement ”, dismemberment of Czechoslovakia took place. Slovakia became a separate state under the control of Nazi Germany. In 1939, Slovakia’s own national currency, the Slovak krone, was launched.
Using your own currency
By the way, it will be noted that at first the new currency was the old Czechoslovak crowns with the inscription “Slovak State” printed on it. Subsequently, the Slovak krone was called the state tickets of the Slovak Republic. In the last period of its circulation, the monetary unit was called a banknote of the National Bank of Slovakia. At that time, Czechoslovak money was exchanged for new crowns in a one-to-one ratio. The currency of Slovakia was pegged to the German mark in accordance with the ten to one exchange rate. That is, for ten Slovak crowns you could get one Reichsmark.
The currency of Slovakia after the end of World War II
What was the currency of Slovakia after the end of World War II? The Czechoslovak state was restored, and the Slovak crowns began to be withdrawn from free circulation. They were replaced by a common monetary unit - the Czechoslovak krona. And only after Slovakia gained independence and sovereignty in 1993 did the Slovak krone gain a new life. As the monetary unit of the young state, it has been used for 16 years. At that time, the exchange of the Slovak krone to the Czechoslovak one was carried out at a one-to-one rate. The Slovak krone in the last period of its existence had the international designation Skk. One crown consisted of one hundred Hellers. In circulation, coins were used in denominations of ten, twenty and fifty hellers, as well as one, two, five and ten crowns.
The National Bank of Slovakia issued bank notes several times . So, the first banknote of the Slovak national currency issued was a denomination of 50 kroons. She came into circulation on August 29, 1993. Subsequently, four more denominations were issued. The first issue was completed in 1995. Then two hundred and five hundred kroons denominations came into circulation. The Slovak currency has been modified several times before the euro. So, new banknotes were issued in 1996, 1999 and 2000.
The introduction of the euro
In 2004, Slovakia became part of the European Union. After that, the national government took a course to prepare the economy for entry into the eurozone. At the time of transition to the common European currency, banknotes of the Slovak koruna in denominations of twenty, fifty, one hundred, two hundred, five hundred, one thousand and five thousand were used in circulation. In 2009, the Slovak state completely switched to the euro and Slovak crowns were withdrawn from circulation. The ratio in the exchange was 1 to 30.13. That is, for 1 euro it was necessary to give 30 crowns and 13 hellers. Since 2009, the currency of Slovakia is the euro.