The currency of the Czech Republic is the Czech koruna, abbreviated as CZK. Since its introduction in 1993 following the split of Czechoslovakia, the koruna has served as a stable medium of exchange in the country. The symbol for the Czech koruna is Kč. The currency is subdivided into 100 haléřů, although haléř coins are no longer in active circulation. The koruna is widely used in everyday transactions, and the Czech National Bank is responsible for issuing and regulating the currency.