I myself at the end of 1990 radically devalued the Czechoslovak crown
(but not in an attempt to gain competitive advantage) and immediately after that introduced a fixed exchange rate regime.
3) This was an important factor which made it much easier for Czech political leaders to effect economic reform in the areas of price liberalization, the devaluation of the Czechoslovak crown (Kcs) and the tax system.
This new dynamism, coupled with the devaluation of the Czechoslovak crown, provide an explanation for the surprisingly low level of unemployment throughout the transition period in Czechoslovakia.
7) The dramatic devaluation of the Czechoslovak crown on 1 January, 1991, (Kcs 28 for $1) increased the opportunities for exports and therefore for the maintenance of high employment.
Klaus also devalued in January the Czechoslovak crown from eight to 38 per dollar to commerce the process toward convertability.
As a result, the Czechoslovak crown is a relatively strong currency by Eastern European standards and a logical candidate for full convertibility by 1992.
The relatively strong Czechoslovak crown is the best candidate for full convertibility among COMECON currencies.
A British owner of studio facilities who toured Barrandov while our team was there believed that Barrandov had taken a significant amount of its business, largely as the result of a favorable exchange rate between the dollar and the Czechoslovak crown.
During the 1985 to 1989 period, gross proceeds from ticket sales rose steadily to a high of 122 million Czechoslovak crowns.