THE CURRENCY REVALUATION

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-00810A002000660009-8
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 2
• Document Creation Date: December 14, 2016
• Document Release Date: March 22, 2002
• Sequence Number: 9
• Publication Date: August 14, 1953
• Content Type: REPORT

Approved For' Release 2002/07/15 CIA-RDP80-0081 OA002000660009-8
CLASSIFICATION: SEcR-;
SECURITY INVORVATION
CENTRAL INTELLIGENCE-AGENCY REPORT;NO,
BNFORMAT1ON REPORT CD NO.
.'OUNTRY Czechoslovakia
_1JB,.IECT The Currency Revaluation
LACE
,1.CQUIRED
-)ATE OF
NFO.
25X1A
~y r ~ wt
:awi,k6 4 'b~ia .AC.va".~.w Ew..'...wu.~rL.
' O 704, OF THE U. 3. CODS, AS AYHOOED. ITS 7NANSSISSION OR FSVEC-
TIOR OF ITS COKTLMTS TO OR RECRIPT SY AU UNAUTHORIZED PERSON
lz PRORIUITED UT LA'.1 THE RRPRODUCTlOR OF THIS FORK IS PROR14lTCO.
31,
25X1A
DATE DISTR
14 Asst 1953
NO OF PAGES
2
NO. OF ENCLS.
(LISTED BELOW)
SUPPLEMENT TO
REPORT NO.
THIS IS UNEVALUATED INFORMATION
25X1X
In the middle of May the., Czechoslovak government promoted consumer purf &' -*
clothing, %.n an attewot to -et rid of an oversupply of poor quality
>4e3'ore the monetary reform, This aroused the suspicions or the people 4 .)
started a buying ware which even widespread assurances by Party and tract#
;inion officials that there was to he no currency reform could not check.
crk 'rs, An rarticul3r, withdrew their savings from the hanks in order st
purchase '..gods.: Finally the 7overnren". on 25 t''ay closed all sho"s ,3311
t nrationed loo ds, '.with The explanation that rationing was to be aboli~ z
i'hus those ,,rho had ,rithdrawn their savings from the bank were unable t~ i-:iy
arz rthintp, and .rhen the currency reform came they were r"urther penalized 1.,,_
c_.nse the exchange rate for bank accounts was more favorable than for at h
;.13ldin;rys? ttiean r ile thfr officials reiterated their aro ices hat thvrs i?Juid
t:e no r onerarv chance,
she announcement oi' tr,ha currency r e1,'orm on 30 [..ay provoked a ran on t ,,.e Q,.uran .sue the 'peony' foz x~c ? honever, that the restaurants had fecci..'_4 ,:?? _
,.* ed rat iora:; sox t.ae weeker.db On Saturday afternoon, 30 Y &y., crowds eltvP xl
,t`cit ~:d a.'?al.rlu v the reform .:1 :.'eP.CE`sla .is :qua: a in ~'r~1 ire, _;everal nun- !a
T,eooie were arrested rsuxo: !,hey were released by ev~ning Or. .onde;r Work j.as
,tar.>oed in several Pra;ue factories including CKD ` talingrad,, :,,via and .l .txa,,
:r( the "talin?rad plant the workers attacked members of the PC-ople"s VAl4:.ti-.
sand drove them from the factory, An attempt by ; par for the members of the _, the Interior Juardp the 3orc'er ,1131 ,y
high espy officers, and officials of ;he Cor unist Party,,, renbers of
the SN31 for instance, sere nerr?.itted to exchange I s,000 Kcs at par a:rtd
the rests at 5 to j ? inister of rinance Jaroslav Ka-)e5 was reluctant, I
;ive the other P?lnisters a favorable rates howevPrg and he resultiri11
.strain caused hire to have a nervous breakdo;.rrno
Approved For Release 2002/07/15 : CIA-RDP80-0081OA002000660009-8