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Tuzex
Tuzex was a series of state-run shops in Czechoslovakia from 1957 to 1992 which did not accept normal Czechoslovak koruna currency but only vouchers which could be purchased from banks using foreign currency. They supplied luxury items: local goods in short supply and in particular foreign goods. The Tuzex vouchers were effectively an unofficial parallel currency. History The Czechoslovak koruna (crown) was a soft currency, that is, not exchangeable for other currencies outside the country. In 1948, shops were established under the name Darex to sell goods to foreigners for foreign (hard) currency only (based on the earlier Torgsin shops in the Soviet Union). Later, these became open to ordinary citizens, but not for crowns. In 1950, to speed up transactions and limit fraud, foreign currency was first converted into Darex vouchers in values of crowns. In 1957, the PZO (Foreign Trade Enterprise) Tuzex (a contraction of ''tuzemský export'' omestic export was founded in or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tuzex - Logo
Tuzex was a series of state-run shops in Czechoslovakia from 1957 to 1992 which did not accept normal Czechoslovak koruna currency but only vouchers which could be purchased from banks using foreign currency. They supplied luxury items: local goods in short supply and in particular foreign goods. The Tuzex vouchers were effectively an unofficial parallel currency. History The Czechoslovak koruna (crown) was a soft currency, that is, not exchangeable for other currencies outside the country. In 1948, shops were established under the name Darex to sell goods to foreigners for foreign (hard) currency only (based on the earlier Torgsin shops in the Soviet Union). Later, these became open to ordinary citizens, but not for crowns. In 1950, to speed up transactions and limit fraud, foreign currency was first converted into Darex vouchers in values of crowns. In 1957, the PZO (Foreign Trade Enterprise) Tuzex (a contraction of ''tuzemský export'' omestic export was founded in order ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Soft Currency
In macroeconomics, hard currency, safe-haven currency, or strong currency is any Foreign exchange market, globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's ''hard'' status might include the stability and reliability of the respective state's legal and bureaucratic institutions, level of corruption, long-term stability of its purchasing power, the associated country's political and Fiscal policy, fiscal condition and outlook, and the policy posture of the issuing central bank. Safe haven currency is defined as a currency which behaves like a Hedge (finance), hedge for a reference portfolio of risky assets conditional on movements in global risk aversion. Conversely, a weak or soft currency is one which is expected to fluctuate erratically or depreciate against other currencies. Softness is typically the result of weak legal institutions and/or political or fiscal instability. History The paper currencies of some de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eastern Bloc Economies
The Eastern Bloc, also known as the Communist Bloc and the Soviet Bloc, was the group of socialist states of Central and Eastern Europe, East Asia, Southeast Asia, Africa, and Latin America under the influence of the Soviet Union that existed during the Cold War (1947–1991). These states followed the ideology of Marxism–Leninism, in opposition to the Capitalism, capitalist Western Bloc. The Eastern Bloc was often called the Second World, whereas the term "First World" referred to the Western Bloc and "Third World" referred to the Non-Aligned Movement, non-aligned countries that were mainly in Africa, Asia, and Latin America but notably also included former Tito–Stalin split, pre-1948 Soviet ally SFR Yugoslavia, which was located in Europe. In Western Europe, the term Eastern Bloc generally referred to the USSR and Central and Eastern European countries in the Comecon (East Germany, Polish People's Republic, Poland, Czechoslovak Socialist Republic, Czechoslovakia, Hungarian ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Of Czechoslovakia
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Czechoslovak Socialist Republic
The Czechoslovak Socialist Republic, ČSSR, formerly known from 1948 to 1960 as the Czechoslovak Republic or Fourth Czechoslovak Republic, was the official name of Czechoslovakia from 1960 to 29 March 1990, when it was renamed the Czechoslovak Federative Republic, sk, Česko-slovenská federatívna republika, ČSFR. On 23 April 1990, it became the Czech and Slovak Federative Republic, sk, Česká a Slovenská Federatívna Republika, ČSFR. From 1948 until the end of November 1989, the country was under Communist rule and was regarded as a satellite state in the Soviet sphere of interest. Following the coup d'état of February 1948, when the Communist Party of Czechoslovakia seized power with the support of the Soviet Union, the country was declared a socialist republic when the Ninth-of-May Constitution became effective. The traditional name (''Czechoslovak Republic''), along with several other state symbols, were changed on 11 July 1960 following the implementation of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hard Currency Shops In Socialist Countries
Hard may refer to: * Hardness, resistance of physical materials to deformation or fracture * Hard water, water with high mineral content Arts and entertainment * ''Hard'' (TV series), a French TV series * Hard (band), a Hungarian hard rock supergroup * Hard (music festival), in the U.S. * ''Hard'' (EP), Goodbye Mr Mackenzie, 1993 * ''Hard'' (Brainpower album), 2008 * ''Hard'' (Gang of Four album), 1983 * ''Hard'' (Jagged Edge album), 2003 * "Hard" (song), a 2009 song by Rihanna * "Hard", a song by Royce da 5'9" from the 2016 album ''Layers'' * "Hard", a song by Why Don't We from the 2018 album ''8 Letters'' * ''Hard'', a 2017 EP from the band The Neighbourhood *"Hard", a song by Sophie from the 2015 compilation album ''Product'' Places * Hard, Austria * Hard (Zürich), Switzerland Other uses * Hard (surname) * Nickname of Masaki Sumitani ( HardGay / HardoGay ) * Hard (nautical), a beach or slope convenient for hauling out vessels * Hard (video game player), Anthony Barkho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1992 Disestablishments In Czechoslovakia
Year 199 ( CXCIX) was a common year starting on Monday (link will display the full calendar) of the Julian calendar. At the time, it was sometimes known as year 952 ''Ab urbe condita''. The denomination 199 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire * Mesopotamia is partitioned into two Roman provinces divided by the Euphrates, Mesopotamia and Osroene. * Emperor Septimius Severus lays siege to the city-state Hatra in Central-Mesopotamia, but fails to capture the city despite breaching the walls. * Two new legions, I Parthica and III Parthica, are formed as a permanent garrison. China * Battle of Yijing: Chinese warlord Yuan Shao defeats Gongsun Zan. Korea * Geodeung succeeds Suro of Geumgwan Gaya, as king of the Korean kingdom of Gaya (traditional date). By topic Religion * Pope Zephyrinus succeeds Pope Victor I, as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1957 Establishments In Czechoslovakia
1957 (Roman numerals, MCMLVII) was a Common year starting on Wednesday, common year starting on Tuesday of the Gregorian calendar, the 1957th year of the Common Era (CE) and ''Anno Domini'' (AD) designations, the 957th year of the 2nd millennium, the 57th year of the 20th century, and the 8th year of the 1950s decade. Events January * January 1 – The Saarland joins West Germany. * January 3 – Hamilton Watch Company introduces the first electric watch. * January 5 – South African player Russell Endean becomes the first batsman to be Dismissal (cricket), dismissed for having ''handled the ball'', in Test cricket. * January 9 – British Prime Minister Anthony Eden resigns. * January 10 – Harold Macmillan becomes Prime Minister of the United Kingdom. * January 11 – The African Convention is founded in Dakar. * January 14 – Kripalu Maharaj is named fifth Jagadguru (world teacher), after giving seven days of speeches before 500 Hindu scholars. * January 15 – The film ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Major Appliance
A major appliance, also known as a large domestic appliance or large electric appliance or simply a large appliance, large domestic, or large electric, is a non-portable or semi-portable machine used for routine housekeeping tasks such as cooking, washing laundry, or food preservation. Such appliances are sometimes collectively known as white goods, as the products were traditionally white in colour, although a variety of colours are now available. An appliance is different from a plumbing fixture because it uses electricity or fuel. Major appliances differ from small appliances because they are bigger and not portable. They are often considered fixtures and part of real estate and as such they are often supplied to tenants as part of otherwise unfurnished rental properties. Major appliances may have special electrical connections, connections to gas supplies, or special plumbing and ventilation arrangements that may be permanently connected to the appliance. This limits wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
