The Czech Koruna is the currency of the Czech Republic. It has been in use since 1993, and is subdivided into 100 haléřů. The koruna is pegged to the euro at a rate of 27.02 koruny to one euro. The name "koruna" means "crown" in Czech, and refers to the Bohemian crown coins which were used as currency in the region prior to 1993.The koruna was initially introduced as a transitional currency until the country could adopt the euro, but it has remained in use after that time due to its popularity and stability. Banknotes are available in denominations of 20, 50, 100, 200, 500 and 1000 koruny, while coins are available in denominations of 1, 2, 5 10 and 20 haléřů as well as 25 and 50 koruny.The current exchange rate for the Czech Koruna is approximately 26 CZK per USD.