01/01/2021: End of Monetary Dualism
The Cuban government completed the currency unification process, eliminating the convertible peso (CUC) and establishing a single currency system with the Cuban peso (CUP).
05/04/2016: End of currency intervention
The Czech National Bank ended its currency intervention policy, allowing the koruna to float freely and be determined by market forces.
20/12/2013: Currency Unification Implementation
The Cuban government officially started the process of currency unification, gradually phasing out the convertible peso (CUC) and improving monetary policy.
06/11/2013: Currency intervention
The Czech National Bank implemented a currency intervention policy to weaken the koruna and stimulate the country's economy.
25/10/2011: Currency Unification Announced
The Cuban government announced plans to eliminate the dual currency system and unify the CUP and CUC.
09/10/2008: Global financial crisis impact
The koruna experienced significant depreciation during the global financial crisis, reflecting the economic challenges faced by the Czech Republic.
30/04/2007: EU membership benefits
The Czech Republic became a member of the European Union's economic and monetary union, allowing for greater stability and cooperation for the koruna.
08/12/2004: Elimination of US Dollar Circulation
The Cuban government announced the withdrawal of the US dollar as legal tender and introduced the convertible peso (CUC) as a replacement.
30/04/2004: EU Accession
The Czech Republic joined the European Union, paving the way for further integration of the koruna with European monetary policies.
07/12/1994: Dollarization Decree
Cubans were allowed to hold and transact in foreign currencies, primarily the US dollar, to counter the economic crisis.
01/08/1994: Special Period
The Cuban economy faced a severe crisis due to the collapse of the Soviet Union, leading to currency devaluation and economic reforms.
30/06/1993: Currency conversion
The Czech Republic adopted a new currency regime, shifting from a fixed exchange rate to a floating exchange rate for the koruna.
07/02/1993: Establishment of Czech koruna
The Czech koruna was introduced as the official currency of the Czech Republic following the dissolution of Czechoslovakia.
01/01/1961: Nationalization of Banks
The Cuban government nationalized all private and foreign-owned banks, including their currency holdings.