This article will provide a comprehensive overview of the Czech Republic's currency, valuable information on exchanging currency, current exchange rates, and the best locations to exchange money.
If you are thinking, "What currency do tourists use in Prague?" This article aims to clarify this matter and shed light on the accepted forms of payment in the country.
- What is the Currency?
- Banknotes and Coins
- Exchange Rates
- How to Exchange
- Cash vs. Credit Cards
- Exchange Locations
- FAQs
What Currency is Used in the Czech Republic?
The official currency of the Czech Republic is the Czech koruna, abbreviated as CZK and often symbolized as Kč.
Despite being a member of the European Union, the Czech Republic does not use the euro. Instead, the Czech koruna, also known as the Czech crown, remains the national currency.
The koruna is further subdivided into hellers, which are smaller units. However, these aren't typically used as transactions are usually rounded to the nearest koruna.
This distinctive currency is essential to the Czech Republic's economic identity.
Denomination of Czech Banknotes and Coins
The Czech koruna, the official currency of the Czech Republic, includes paper banknotes and metal coins.
The banknotes, full of distinct and vibrant designs, come in multiple denominations. You'll be using these for more significant purchases while exploring Czechia.
Meanwhile, there are also coins, more minor in value but valuable. Whether dropping a coin into a parking meter or buying a keepsake postcard, these tiny treasures will prove their worth during your Czech adventure.
- Banknotes: Banknotes are a significant part of the system. You will encounter a range of notes, including 100 Kč, 200 Kč, 500 Kč, 1000 Kč, 2000 Kč, and 5000 Kč.
- Coins: You'll also find coins in your change. These smaller denominations of the Czech koruna include 1 Kč, 2 Kč, 5 Kč, 10 Kč, 20 Kč, and 50 Kč coins.
Exchange Rates for CZK
The exchange rate for the Czech koruna can fluctuate based on several factors, so it's essential to check the current exchange rate before you exchange your travel money.
Frequently traded pairs usually involve prominent currencies like the US dollar (USD), Euro (EUR), and British pound (GBP).
As we step into June 2023, here's a snapshot of the current exchange rates:
- 1 USD is equivalent to 22.05 CZK, which means 100 USD is approximately 2204.92 CZK.
- 1 EUR is equivalent to 23.65 CZK in exchange. Thus 100 EUR would give you around 2364.67 CZK.
- 1 GBP is equivalent to 27.45 CZK in exchange. Thus 100 GBP would give you around 2745.23 CZK.
Exploring Currency Exchange Options in Czech
There are numerous options to get your hands on the Czech koruna once you arrive in Czechia. Bank branches and currency exchange offices are the most common places where you can exchange your USD, euro, or any other currency to CZK.
Another option is withdrawing directly from ATMs. Both Mastercard and Visa debit cards are widely accepted in Czech ATMs. Check the transaction fees, and always ask for a receipt to keep track of your spending.
Banks:
You can use reputable banks to exchange your money for Czech korunas (CZK) in the Czech Republic. They function throughout regular business hours and provide the best exchange rates.
Exchange Offices:
Exchange offices, also known as bureaux de change, are common throughout Czechia. They are more common and provide the convenience of longer operating hours in touristy areas.
ATMs:
They are a quick and convenient way to obtain Czech koruna. They are widely available, open around-the-clock, and frequently provide favorable exchange rates. Most ATMs will likely accept your card, whether Visa or MasterCard.
Cash vs. Credit Cards
The Czech Republic accommodates a wide array of payment options for your convenience.
From traditional cash transactions to modern credit card payments, you'll find that Czechia is well-equipped to handle diverse financial exchanges.
Credit cards are commonly accepted in the Czech Republic, particularly in larger cities and popular tourist spots. From hotels to restaurants and major retailers, you'll find that your Visa or MasterCard is often welcomed.
Cash remains king in some parts of Czechia. Particularly in smaller towns, rural areas, or less-touristy destinations, you may find that cash is the only form of payment accepted.
Local markets, small eateries, or family-run businesses might prefer transactions in Czech korunas.
Therefore, the best approach is a balanced one. It's always a good idea to keep a mix of both cash and card while you're exploring the beautiful landscapes and historic locales of the Czech Republic.
The Best Locations to Exchange Currency in Czech
When visiting the Czech Republic, knowing where to find the best locations for currency exchange is essential. Please look at these three currency exchange offices in the Czech Republic.
EXCHANGE Ltd
The exchange offices of EXCHANGE Ltd are strategically located in popular tourist areas and city centers, making it convenient for travelers to find their services. EXCHANGE Ltd prioritizes providing fast and efficient service.
Located: Kaprova 14/13, Prague 1 - Josefov 110 00
Contact number: +420 800 225599
Website: www.exchange.cz
Operating Hours: Monday to Friday, 9 am - 8 pm; Saturday and Sunday, 9 am - 6 pm.
Golden Exchange
Golden Exchange has established a trusted reputation in the currency exchange industry, known for its reliability and fair practices. The staff at Golden Exchange are knowledgeable and well-trained, able to assist customers.
Located: Havlíčkova 13, Prague 1
Contact numbers: +420 774 000 742, +420 775 955 557
Website: goldenexchange.cz
Operating Hours: Monday to Friday, 8:30 am - 8 pm; Saturday and Sunday, 8:30 am - 7 pm.
Capital Exchange s.r.o
Capital Exchange s.r.o prioritizes the security of transactions, ensuring that customers can exchange their currency safely and reliably.
The staff at Capital Exchange s.r.o are often multi-lingual, capable of assisting customers who may require language support during their currency exchange process.
Located: Jindřišká 12/908, Prague 1
Contact number: +420 224 267 443, +420 605 531 029
Website: www.capitalexchange.cz
FAQS - Frequently Asked Questions
Can I use euro in Czech Republic?
No, the official currency of the Czech Republic is the Czech Koruna (CZK). You must exchange your euros for Czech korunas when visiting the Czech Republic.
Is USD accepted in Prague?
Some larger establishments in Prague may accept US dollars, it is only sometimes accepted as payment. You should exchange your US dollars for Czech korunas for most transactions during your visit to Prague.
Should I exchange money before I travel to Prague?
It is generally advisable to exchange money for Czech korunas before traveling to Prague. Having some local currency in hand can be helpful for immediate expenses upon arrival, such as taxis fares or small purchases.
How much money do I need in Prague per day?
The amount of money you will need daily in Prague depends on your individual spending habits and the activities you plan to engage in.
On average, budget-conscious travelers can expect to spend around 1000 to 1500 Czech korunas daily for meals, local transportation, and attractions.
Do stores in Prague accept Euros?
Some stores and tourist-oriented establishments may accept euros, the official currency for transactions in Prague is the Czech Koruna (CZK).
It is recommended to have Czech korunas on hand for most purchases to ensure convenience and avoid potential exchange rate discrepancies.
