Less than six weeks after Czechoslovakia split up on the 1st of January,
1993, two new currencies emerged, replacing the Czechoslovak crown which
had existed since 1919. The two countries divided their monetary assets,
liabilities and reserves according to a ratio of two to one in favour of
the Czech Republic. After monetary separation was publicly announced, all
payments between the two new countries stopped and border controls were
stepped up to prevent transfers of cash. The new currencies became valid
on February 8, ten years ago.