The currency of the Czech Republic, despite the fact that this state has been part of the European Union for years, is not the euro. In fact, the choice has been made here to continue using the Czech koruna (CZK ), which has been in effect since January 1, 1993.

In this article we find out together about the Czech koruna-euro exchange rate, where to change money and where credit cards and cash are accepted.

Czech koruna-euro exchange rate

Czech crowns are available in both coins(1, 2, 5, 10, 20 and 50) and banknotes(100, 200, 500, 1000, 2000, 5000). Indicatively one euro is equivalent to about 25 koruna, so considering banknotes you can orient yourself like this:

• 100 kroons = 4 euros
• 200 kronor = 8 euros
• 500 kronor = 20 euros
• 1000 kroons = 40 euros
• 2000 kronor = 80 euro
• 5000 kronor = 200 euros

Obviously these are approximate values, as well as rounded, since the exchange rate is variable.

How to pay in the Czech Republic

Since the euro is not used in the Czech Republic you may be wondering what is the best way to pay for your purchases.

Without a doubt the most convenient and practical way is to use your credit card.

Credit cards are widely accepted in stores, restaurants and hotels. Only small businesses such as newsstands, street vendors and neighborhood stores require cash payments.

Of course in the rare cases where you should be in doubt as to whether or not a merchant will accept your card because you may not see the appropriate stickers displayed, ask first if you can pay by card so you can remove any doubt.

The credit cards accepted are those belonging to the American Express, Mastercard and Visa circuits.

Without major problems you can also make payments in Eurocheque.

That of paying by card is by far the most convenient way but since not everyone likes it, let’s look at some useful tips for those who decide to have Czech crowns in their pockets.

Where to change money

Not everyone likes to pay by card because they prefer to have banknotes with them. It is rare and not very convenient, but you could make the exchange already in Italy.

To do this you can go to a bank or ask for the support of a specialized company.

The fees in this case would be quite high.

Once you arrive in the Czech Republic, the most convenient place to make the euro-Koruna exchange is to withdraw from ATMs.

ATM

A good idea is to make use of the many ATMs scattered around the city.

These are operational day and night and offer zero commission.

The only caution is to check before you leave how much your bank charges if you withdraw abroad.

Consider that ATMs often make it possible to redeem only the largest bills, i.e., those of 500, 1,000, or even worse, 2,000 kroner.

Banks

Alternatively, it is possible to change at banks where a fixed exchange rate of about 2 percent is adopted.

However, it may happen that some institutions require you to exchange a minimum amount, for example, not less than 50 euros.

In Prague, banks are usually operational from Monday to Friday.

They usually remain in operation from 9 a.m. to 5 p.m. but it is not uncommon in the more central parts of the city for the service to extend until 8 p.m.

Exchange offices

Located on Prague’s main streets, in some hotel receptions and at the airport, they offer variable exchange rates that are higher than those of a bank.

Those offering the best exchange rates are located in the central districts of Staré Město and Malá Strana.

Some exchange offices may charge additional fees.

For this reason check that all the most important information (required by law) is clearly stated so that you know precisely how much koruna you will receive when you exchange your euros and that if not, it is your right to file a complaint.

Of course rather than standing there doing calculations you could simply ask: How many kronor will I receive by exchanging 100 euros? Once you receive the answer you will evaluate whether you should accept or not.

Changing at the airport

As written above, euro-crown exchange can also be done at the airport and is certainly not one of the most convenient.

If you have to make purchases at the airport, in addition to the always valid advice to use your credit card, there is the possibility of paying in euros, which will also allow you to put some Czech koruna in your pocket if you wish.

How? Simply by asking the shopkeeper to give you change in Czech koruna.

In many cases the exchange rates charged by these businesses are convenient or at least fair.

The same criterion is also adopted by shopkeepers operating in cities that accept other currencies besides the koruna. In this case the exchange rates may be less favorable.

Changing on the street

When one needs to change money in a foreign country, as much in Prague as at any other latitude of the globe, the suggestion is never to turn to figures on the street.

They, catching sight of the tourist in trouble, offer to help him by promising, among other things, to adopt a more than favorable exchange rate.

Do not trust them: the exchange rate will be favorable, yes, but not for you.

Cents

In and around Prague there seems to be little confidence with pennies. Generally no one will ask you for them and do not expect to receive them as change.

In fact, people here prefer to round prices up or down depending on the situation.

Prague currency: frequently asked questions