The Czechoslovak koruna was the first national currency of Czechoslovakia after its monetary system was established in 1919.
Czechoslovakia was created in 1918 after the breakup of Austria-Hungary. The new state initially used existing Austro-Hungarian banknotes, but it needed a separate currency to establish financial independence and control the money circulating within its borders.
In February 1919, the government separated its currency from the former imperial monetary system through a currency reform. The koruna, divided into 100 haléřů, became the country’s monetary unit. The currency experienced major changes during the twentieth century, including wartime disruption, postwar reform, and communist-era restructuring.
After the peaceful dissolution of Czechoslovakia in 1993, the currency was replaced by the Czech koruna in the Czech Republic and the Slovak koruna in Slovakia. Those two successor currencies should not be confused with the earlier Czechoslovak koruna.