In Prague, the capital city of the Czech Republic, the official currency is the Czech koruna (CZK). When visiting Prague, it’s important to familiarize yourself with the local currency to ensure a smooth and hassle-free experience during your trip.
Let’s take a closer look at the Czech koruna and some tips for handling money in Prague.
The Czech Koruna (CZK)
The Czech koruna, denoted by the symbol “Kč” or “CZK,” is the legal tender in Prague. It has been the official currency of the Czech Republic since 1993 when it replaced the Czechoslovak koruna after the country’s peaceful separation into two independent states.
The banknotes of the Czech koruna come in denominations of 100 Kč, 200 Kč, 500 Kč, 1000 Kč, 2000 Kč, and 5000 Kč. Each banknote features various iconic landmarks or notable figures from Czech history.
The coins of CZK are available in denominations of 1 Kč, 2 Kč, 5 Kč, 10 Kč, 20 Kč, and 50 Kč. The designs on these coins reflect significant historical and cultural aspects of the country.
Exchanging Currency
If you’re arriving in Prague from another country, you may need to exchange your currency for Czech koruna. Here are a few tips on where to exchange your money:
- Banks: Banks often provide competitive exchange rates and have reliable services. Look for reputable banks such as Česká spořitelna or Komercni banka.
- Exchange Offices: Exchange offices are widely available throughout Prague, especially in tourist areas. However, be cautious as some may charge high commission fees or offer unfavorable rates.
Look for those displaying “bez poplatku” or “no commission. “
- ATMs: ATMs are abundant in Prague, and they usually offer fair exchange rates. Check with your bank to ensure your debit or credit card is compatible with international withdrawals.
Paying with Money in Prague
Cash is widely accepted in Prague, particularly for smaller transactions and in local establishments. However, major hotels, restaurants, and shops often accept credit cards as well.
It’s always a good idea to carry some cash on hand for places that might not accept cards.
When paying with cash, keep the following tips in mind:
- Small Denominations: It’s advisable to have smaller denominations of banknotes like 100 Kč or 200 Kč as many places may not have sufficient change for larger notes.
- Exact Change: If possible, try to pay with exact change to avoid receiving unnecessary coins.
- Tipping: Tipping is customary in Prague. It’s common to round up the bill or leave a small tip of around 10% of the total amount.
Currency Exchange Precautions
While handling money in Prague, it’s essential to take precautions to ensure your financial safety:
- Avoid Street Exchangers: Street exchangers may approach you with tempting offers on the street. However, it’s generally best to avoid these informal and unregulated exchange services.
- Check Exchange Rates: Before exchanging your currency, check the current exchange rates to ensure you’re getting a fair deal.
- Keep an Eye on Commission Fees: Some exchange offices may charge high commission fees, so compare rates and fees before making a transaction.
In Conclusion
The Czech koruna is the official currency of Prague. When visiting this beautiful city, be sure to familiarize yourself with the local currency, where to exchange money, and how to handle cash transactions.
By following these tips, you’ll have a smoother experience during your trip and can focus more on exploring Prague’s rich history and culture.