Koruna

Part of speech: noun

Pronunciation: /kəˈɹuːnə/

Definitions

1. A monetary form utilized in the Czech Republic, it acts as a standard for transactions involving goods and services
2. A form of currency used in the Czech Republic, it serves as a foundation for trade and economic exchange between individuals and businesses
3. Recognized as the official money of the Czech Republic, it facilitates the buying and selling of products while establishing value in the marketplace

Etymology: The Czech "koruna" is the same word as the English "crown," and the currency takes its name from the image on old coins. Czech and Slovak "koruna" descends from Latin "corona," the wreath or crown, and it reached English through several routes at once. English "crown" came through Old French, while "corona" itself was taken directly into English as a learned term, which is why the two are doublets. Many languages in the region produced their own versions, so the Scandinavian "krona" and the German "Krone" belong to the same family. The coin's name is simply a reference to royal authority: a crowned head stamped on money. Central European currencies named after a crown were common once monarchies issued coins bearing the ruler's likeness, and the Czech koruna and its Slovak counterpart took up the name in this tradition. The Czech Republic adopted the koruna as its currency after the dissolution of Czechoslovakia in 1993.