The Czech National Bank has the exclusive right to issue the Czech koruna, the Czech Republic’s currency under the code CZK and symbol Kč. Current banknotes are 100, 200, 500, 1,000, 2,000 and 5,000 CZK; the former 20- and 50-CZK notes were replaced in ordinary circulation by coins and are no longer legal tender. The Czech Republic has not replaced CZK with the euro, so prices, balances and domestic settlement continue to use the national unit. Euro-area proximity can still make EUR conversion common in cross-border payments, but that is a separate financial transaction. A CZK-denominated account records value in the Czech unit regardless of whether the funding source originally held CZK, EUR or another currency.
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