In Prague, the preferred currency is the Czech koruna (CZK). When visiting the capital city of the Czech Republic, it is important to be aware of the local currency and how to handle your money.
Why is CZK the Preferred Currency?
The Czech koruna has been the official currency of the Czech Republic since 1993 when it replaced the Czechoslovak koruna following the country’s peaceful separation. It is widely accepted throughout Prague, making it convenient for both locals and tourists.
Where Can You Exchange Currency?
There are various places where you can exchange your currency for Czech koruna in Prague:
- Banks: Banks offer reliable and secure currency exchange services. You can find banks throughout Prague, and they typically provide competitive exchange rates.
- Exchange Offices: Exchange offices are also prevalent in Prague.
However, it is important to be cautious when using exchange offices as some may charge high fees or offer unfavorable rates. Look for reputable offices with transparent fees.
- ATMs: ATMs are widely available in Prague, allowing you to withdraw cash in Czech koruna directly from your bank account. Before using an ATM, check with your bank regarding any international withdrawal fees.
Tips for Handling Cash in Prague
To ensure a smooth experience with handling cash in Prague, consider these tips:
- Carry Sufficient Cash: While credit cards are widely accepted in hotels, restaurants, and major stores in Prague, smaller establishments may prefer cash payments. It is advisable to carry enough cash for daily expenses.
- Notify Your Bank: Before traveling to Prague, inform your bank of your travel plans. This will prevent your card from being blocked due to suspected fraudulent activity.
- Keep Small Denominations: Having small denominations of Czech koruna can be useful for smaller purchases, as some vendors may not have change for larger bills.
- Use a Money Belt or Wallet: To ensure the safety of your cash, consider using a money belt or a secure wallet that is difficult for pickpockets to access.
Currency Exchange Rates
The exchange rates for Czech koruna can fluctuate daily. It is advisable to check the rates before exchanging your currency. Many websites and mobile apps provide up-to-date exchange rate information.
In Conclusion
When visiting Prague, it is important to familiarize yourself with the local currency, the Czech koruna. Ensure that you have enough cash on hand for everyday expenses and be mindful of where you exchange your money to avoid unfavorable rates or high fees. By following these tips, you can navigate Prague’s currency system with ease and enjoy your time in this beautiful city.