The Czech National Bank (ČNB) is introducing a new design for the five thousand koruna banknote. However, the old designs from 1999 and 2009 will remain valid, and there is no need to exchange them for new ones. The central bank decided to issue the new design due to advancements in printing technology. Still, the differences resulting from this technology are not discernible to the naked eye, as stated by the ČNB in a press release on Wednesday.
The new banknote design features the same security elements as the previous ones. It differs in the year of issuance, 2023, and the governor’s signature. The ČNB will gradually replace the old banknotes currently in circulation based on their level of wear and tear.
The five thousand koruna banknotes have the most extended lifespan among all Czech banknotes. This is because people do not commonly carry these banknotes in their wallets or use them for everyday transactions due to their high denomination. As a result, they experience less wear and tear. Five thousand koruna banknotes are the least circulated among all banknotes, accounting for approximately 5.5% of the total number of 525 million banknotes.
The two thousand koruna banknotes are the most widely circulated banknotes, representing about one-third of all used banknotes. They are followed by one thousand koruna banknotes, which account for one-quarter of the total, and then two hundred koruna, one hundred koruna, and five hundred koruna banknotes.
In addition to the new five thousand koruna banknote, the Czech Republic also has banknotes in denominations of 100 and 200 koruna with a design from 2018, five hundred koruna banknotes with a design from 2009, one thousand koruna banknotes with a design from 2008, and two thousand koruna banknotes with a design from 2007.
The ČNB has previously withdrawn older banknote designs from circulation, most recently the 100, 200, 500, 1000, and 2000 koruna banknotes from 1995 to 1999, which a thinner silver stripe can identify. Until the end of June 2024, these banknotes can be exchanged for valid ones at regular bank counters, but later, it will only be possible at ČNB branches.