View source for Finance:Slovak koruna

{{Short description|Currency of Slovakia (1993–2008)}}
{{Infobox currency
| local_name1 = slovenská koruna
| local_name_lang1 = sk
| image_1 = 
| image_title_1 = Coins
| image_2 = 
| image_title_2 = 500 Sk
| iso_code = SKK
| using_countries = {{SVK}}
| inflation_rate = 3.5%, December 2008
| ERM_since = 28 November 2005
| euro_replace_non_cash = 1 January 2009
| euro_replace_cash = 1 January 2009 (cash payments possible until 16 January 2009)
| ERM_fixed_rate = 30.1260 Sk<sup>1</sup>
| ERM_band = 15%
| subunit_ratio_1 = {{frac|1|100}}
| 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 = {{URL|www.nbs.sk}}
| obsolete = yes
| footnotes = <sup>1</sup> The rate has changed twice. See article for details.
}}
The '''Slovak koruna''' or '''Slovak crown''' ({{lang-sk|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 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 [[Finance:Euro|euro]] on 1 January 2009, at a rate of 30.1260 korunas per euro.

In Slovak, the nouns ''koruna'' and ''halier'' both have two plural forms. "Koruny"<ref>[https://www.cia.gov/the-world-factbook/countries/slovakia/ CIA - The World Factbook -- Slovakia]. 15 May 2007; accessed 19 May 2007.</ref> 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 [[Finance:Czechoslovak koruna|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 ({{circa}} 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 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.<ref>{{cite book | last1 = Linzmayer | first1 = Owen | title = The Banknote Book | chapter = Slovakia | publisher = www.BanknoteNews.com | year = 2012 | location = San Francisco, CA | url = http://www.banknotebook.com}}</ref>
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.

{| class="wikitable" style="font-size: 90%"
|-
!Denomination
!Dimensions<br>(millimetres)
!Value in [[Finance:Euro|euro]]s (€)
!colspan="2" | Image
! colspan="2" |Main colour
!Obverse
!Reverse
!Remark
|-
!20 korún
|128 x 65
|€0.66
|
|
|style="background:#19E119"|
|Green
|Prince Pribina
|Nitra/Neutra Castle
|
|-
!50 korún
|134 x 68
|€1.66
|
|
|style="background:#1199FF"|
|Blue
|Saints Cyril and Methodius
|Dražovce church and the first seven letters of the Glagolitic alphabet
|
|-
!100 korún
|140 x 71
|€3.32
|
|
|style="background:#FF5757"|
|Red
|Madonna at Levoča church
|St. Jacob's church in Levoča/Leutschau and city hall
|
|-
!200 korún
|146 x 74
|€6.64
|
|
|style="background:#00C0F0"|
|Turquoise
|[[Biography:Anton Bernolák|Anton Bernolák]] (1762 &ndash; 1813), linguist and Catholic priest
|Trnava in the 18th century
|Introduced in 1995
|-
!500 korún
|152 x 77
|€16.60
|
|
|style="background:#996633"|
|Brown
|Ľudovít Štúr (1815 &ndash; 1856), leader of the Slovak national revival
|Bratislava Castle and St. Michaels church
|
|-
!1000 korún
|158 x 80
|€33.19
|
|
|style="background:#B14AD6"|
|Purple
|Andrej Hlinka (1864 &ndash; 1938), politician and Catholic priest
|Madonna of Liptovké Sliace/Liptau church; St. Andrew's church in Ružomberok 
|
|-
!5000 korún
|164 x 82
|€165.97
|
|
|style="background:#FFAA22"|
|Orange
|Milan Rastislav Štefánik (1880 &ndash; 1919), politician and diplomat
|Stefanik's grave on Bradlo Hill: [[Astronomy:Ursa Major|Ursa Major]] constellation
|Introduced in 1994
|}

Slovak banknotes denominated in koruny can be exchanged for euros indefinitely.

===Historical exchange rates===
[[File:Euro exchange rate to SKK.svg|right|thumb|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.<ref>{{cite news | title= Slovak Koruna Included in the ERM II | url= http://www.nbs.sk/PRESS/PR051128.HTM | publisher= National Bank of Slovakia | date=2005-11-28 | access-date=2007-03-17 |archive-url = https://web.archive.org/web/20061002212008/http://www.nbs.sk/PRESS/PR051128.HTM <!-- Bot retrieved archive --> |archive-date = 2006-10-02}}</ref><ref>{{cite web | author= European Commission | url= http://ec.europa.eu/economy_finance/euro/world/euro_world_6_en.htm | title= Exchange Rate Mechanism II (ERM II) | access-date=2007-03-17 }}</ref> 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.<ref>{{cite news |author1=Radoslav Tomek  |author2=Meera Louis  |name-list-style=amp | title= Slovakia, EU Raise Koruna's Central Rate After Appreciation | url= https://www.bloomberg.com/apps/news?pid=20601087&sid=aiS3SZQS4WPM&refer=home | publisher= [[Company:Bloomberg L.P.|Bloomberg]] | date=2007-03-17 | access-date=2007-03-17 }}</ref> 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.<ref>{{cite news |author1=Radoslav Tomek  |author2=Meera Louis  |name-list-style=amp | title = Slovakia Wins EU Approval to Let Koruna Strengthen | url =  https://www.bloomberg.com/apps/news?pid=20601085&sid=a8LKIYWhk98s&refer=europe | publisher= [[Company:Bloomberg L.P.|Bloomberg]] | date=2008-05-28 | access-date=2008-05-29 }}</ref>

==See also==
* [[Finance:Czechoslovak koruna|Czechoslovak koruna]]
* [[Finance:Czech koruna|Czech koruna]]
* Economy of Slovakia
* Slovak euro coins

==Notes==
{{Reflist}}

==References==
{{refbegin}}
*{{cite book | author=Biľak, M. - Jízdný, M. | title=Zberatelský katalóg mincí Československa | publisher=Československá Numizmatická Spoločnosť, Pobočka Košice | year=1988}}
{{refend}}

==External links==
*[http://www.ecb.int/euro/changeover/slovakia/html/index.en.html ECB: The euro cash changeover in Slovakia (as of 1 January 2009)]
*[https://web.archive.org/web/20081010140946/http://www.nbs.sk/BIATEC/BIA07_08/7_11.PDF], [http://www.nbs.sk/BIATEC/BIA09_08/9_11.PDF]{{dead link|date=May 2018 |bot=InternetArchiveBot |fix-attempted=yes }}, [http://www.nbs.sk/BIATEC/BIA11_08/11_1.PDF]{{dead link|date=May 2018 |bot=InternetArchiveBot |fix-attempted=yes }} (History of the Slovak koruna/crown and its predecessors at the website of the National Bank of Slovakia, parts 1, 2, 3)
*[http://www.bis-ans-ende-der-welt.net/Slowakei-B-En.htm The banknotes of Slovakia] {{in lang|en|de}}


[[Category:Currency symbols]]

{{Sourceattribution|Slovak koruna}}