The koruna (sign: Kč; code: CZK) is the currency of the Czech Republic since 1993, and in English it is sometimes referred to as Czech crown. The koruna is one of European Union's 11 currencies, and the Czech Republic is legally bound to adopt the euro currency in the future. The official name in Czech is koruna česká (plural koruny české, though the zero-grade genitive plural form korun českých is used on banknotes and coins of value 5 Kč or higher). The ISO 4217 code is CZK and the local acronym is Kč, which is placed after the numeric value (e.g., "50 Kč") or sometimes before it (as is seen on the 10-koruna coin). One koruna equals 100 haléřů (abbreviated as "h", singular: haléř, nominative plural: haléře, genitive plural: haléřů – used with numbers higher or equal to 5 – e.g. 3 haléře, 8 haléřů), but haléře have been withdrawn, and the smallest unit of physical currency is 1 Kč.
The Czech currency came under sustained upward pressure in the middle of January, as investors piled in on bets that faster inflation would spur the central bank to abandon a cap that has kept a lid on the koruna for the past three years.
The following discussion of our results of operations and financial condition
should be read in conjunction with our condensed consolidated financial
statements and related notes appearing elsewhere... | April 23, 2020