In Prague, the capital city of the Czech Republic, the currency used is the Czech koruna (CZK). The koruna is abbreviated as Kč and has a symbol similar to the letter ‘K’ with two horizontal lines through it. It is important to understand the currency used in Prague to ensure a smooth and hassle-free experience during your visit.
Understanding Czech Koruna
The Czech koruna is the official currency of the Czech Republic. It has been in use since 1993 when it replaced the Czechoslovak koruna after the dissolution of Czechoslovakia.
The koruna is further divided into smaller units called ‘haléř’, where 100 haléř equals 1 koruna. However, due to its minimal value, haléř coins are no longer in circulation, and all transactions are rounded up or down to the nearest koruna.
Banknotes and Coins
The Czech koruna banknotes come in various denominations, including 100 Kč, 200 Kč, 500 Kč, 1000 Kč, 2000 Kč, and 5000 Kč. Each banknote features notable figures from Czech history or cultural heritage on one side and architectural landmarks on the other.
The coins in circulation include values of 1 Kč, 2 Kč, 5 Kč, 10 Kč, 20 Kč, and even higher denominations. The coins have distinct designs representing different aspects of Czech culture or historical events.
Where to Exchange Currency?
If you are traveling to Prague from another country, you might need to exchange your local currency for Czech koruna. Fortunately, there are several options available:
- Banks: Banks in Prague offer currency exchange services. It is recommended to compare exchange rates and fees before choosing a bank for currency conversion.
- Exchange Offices: Exchange offices, also known as ‘směnárna’, are common throughout the city.
They usually offer competitive rates, but it’s essential to be cautious and check for any hidden fees.
- ATMs: ATMs are widely available in Prague, and they provide the option to withdraw cash in the local currency. However, it’s advisable to check with your bank regarding any international withdrawal fees.
Tips for Handling Cash
When using cash in Prague, it is crucial to handle it securely and be aware of potential scams. Here are some tips to keep in mind:
- Count Your Change: Always count your change carefully after making a purchase or receiving change from vendors to ensure accuracy.
- Avoid Street Currency Exchanges: Street currency exchanges may seem convenient but are often associated with high fees or fraudulent practices. Stick to reputable exchange offices or banks.
- Be Mindful of Pickpockets: Like any popular tourist destination, Prague can have pickpockets. Keep your money secure and be vigilant in crowded areas or public transportation.
Credit Cards and Contactless Payments
In addition to cash, credit cards are widely accepted in most establishments throughout Prague. Visa and Mastercard are commonly used, while American Express might have limited acceptance.
Contactless payments have gained popularity in recent years, allowing you to make transactions by simply tapping your card on a payment terminal. Many shops, restaurants, and public transport systems support contactless payments for added convenience.
In conclusion,
Prague uses the Czech koruna (CZK) as its official currency. It is advisable to exchange your currency for koruna at banks, exchange offices, or ATMs.
When handling cash, be cautious of scams and pickpockets. Additionally, credit cards and contactless payments are widely accepted.
By familiarizing yourself with the local currency and payment options, you can enjoy your time in Prague without any financial complications.