Can Euro Be Used in Prague?
When planning a trip to Prague, one of the most common questions that arises is whether or not the Euro can be used as currency in the city. To put it simply, the official currency of the Czech Republic is the Czech koruna (CZK), and while some businesses may accept Euros, it is not widely accepted.
Why Can’t Euro Be Used in Prague?
Legal Tender:
The Czech koruna is considered legal tender in Prague. This means that businesses are obligated to accept payment in CZK, and they are not required to accept any other currency, including the Euro. While some establishments may choose to accept Euros for convenience or due to proximity to tourist areas, it is important to have Czech koruna on hand for most transactions.
Exchange Rates:
Another reason why Euros are not widely accepted in Prague is due to exchange rates. If a business chooses to accept Euros, they will need to convert them into CZK.
This conversion can be subject to unfavorable exchange rates, resulting in potential losses for the business. As a result, many businesses prefer accepting local currency.
Tips for Currency Exchange
If you are traveling to Prague and need local currency, here are some tips for a smooth currency exchange experience:
- Exchange at Banks: Banks offer competitive exchange rates and reliable service compared to other exchange options.
- Avoid Airports and Hotels: Currency exchange services at airports and hotels often charge higher fees and provide less favorable rates.
- Use ATMs: Withdrawing cash from ATMs usually offers better rates compared to exchanging physical cash.
- Notify Your Bank: Before traveling, inform your bank about your trip to ensure your cards are not blocked for suspicious activity.
Using Euros as a Tourist
While Euros may not be widely accepted in Prague, as a tourist, there are still some instances where you can use Euros:
- Hotels and Large Restaurants: Some hotels and upscale restaurants catering to tourists may accept Euros. However, it is always wise to check beforehand.
- Tourist Areas: In popular tourist areas with high footfall, you may find a few shops and vendors that accept Euros. However, smaller establishments may prefer CZK.
- Exchange Offices: There are numerous exchange offices throughout Prague where you can convert your Euros into CZK.
In Conclusion
While the Czech Republic is part of the European Union (EU), it has not adopted the Euro as its official currency. Therefore, it is advisable to exchange your Euros for Czech koruna before or upon arrival in Prague. By doing so, you will ensure that you have the local currency readily available for most transactions and avoid any inconvenience during your trip.