arms of Slovakia and the denomination to Czechoslovak banknotes. Later that year Slovakia issued its own set of banknotes. The main motifs on the obverses of the banknotes represent important people living in the territory of the present Slovakia in various historical eras. On the reverses, these motifs are completed by depicting places where these people lived and were active. Slovak banknotes denominated in koruny can be exchanged for euros indefinitely. Historical exchange rates The graph shows the value of the euro in korunas from 1999 to December 2008. As may be seen, the currency strengthened as Slovakia's economy did. The koruna joined the ERM II on 28 November 2005 at the rate of € = 38.4550 Sk with a 15% band. On 17 March 2007, this rate was readjusted to 35.4424 Sk with the same band, an 8.5% increase in the value of the koruna. On the same day, 1 euro traded at 33.959 Sk. The central rate of koruna was then adjusted once more on 28 May 2008 to 33.8545 with no change in the band. See also Czechoslovak koruna Czech koruna Economy of Slovakia Slovak euro coins Notes References External links ECB: The euro cash changeover in Slovakia (as of 1 January 2009) , , (History of the Slovak koruna/crown and its predecessors at the website of the National Bank of Slovakia, parts 1, 2, 3) The banknotes of Slovakia Currencies of Europe Currencies replaced by the euro Currencies of Slovakia Modern obsolete currencies Banknotes of Europe Currency symbols