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Where to change your money in Prague

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Finally, you’re in Prague ! However, one question remains. The Czech capital hasn’t opted for the euro, so you might be wondering where to change your money?

As one of the most important cities in the European Union, Prague has enjoyed incredible success as a tourist destination, beating its attendance record year after year.

In 2018, 7.9 million visitors came to the Czech Republic, 6.7 million of them from abroad. Naturally, in the face of such an influx, the city has to fight against certain abuses. Between scams and common sense, you need to be constantly on your guard, as the city is changing at breakneck speed!

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What is the currency in the Czech Republic?

In the Czech Republic, locals don’t use the euro. No, they use the Czech crown. This currency is considered to be fairly weak compared to the euro, which means it has good purchasing power once you’re here. It is generally estimated that one euro is equivalent to 25 or 26 Czech crowns (CZK). Depending on the day, rates can be more or less attractive.

Where to change money in Prague

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Looking for a place to change euros into Czech crowns? Our first tip is quite simple… Don’t change anything at Prague airport!

No, you’ll have to wait until you’re in the city center, as there’s only one place we think will do the job without ripping you off. So you’ll have to go to Old Town Square.

What next? Go to the following address: Kaprova 14/13, 110 00 Josefov. The place is immediately recognizable, as it’s on the corner of a street, while the storefront is all blue. Inside, you’ll be able to get the best exchange rates in town.

Good to know

The place is generally open between 9am and 8pm. The establishment is close to some of Prague’s off-the-beaten-track activities! There are many czk – eur exchange offices, but this one is probably the best, or at least the one with the best exchange rate. Go for it!

Where can I withdraw money in Prague?

This is an address we recommend you keep in mind. You never know what can happen when you travel, and while Prague is full of such little stores, the exchange rates can be rather dubious.

The same applies to ATMs. For whatever reason, you may need to withdraw money directly from an ATM. It’s better if you use ATMs directly in banks.

If you don’t have a bank nearby and a cash dispenser presents itself, your only mission is to avoid the EURONEXT machines. This company charges astronomical rates and commissions.

How do I pay in the Czech Republic?

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In Prague and the rest of the Czech Republic, you can pay as you like: with cash or credit card. But be careful.

If you wish to pay by credit card, we recommend that you contact your bank beforehand to check exchange rates.

With each transaction, you could be over-saturated by tens of centimes, or even euros, which could then have an impact on your final budget.

Prepare your stay

Whether you want to pay for restaurants or other activities, the Czech Republic and the countries of Central Europe naturally accept payment by credit card. Beware, however, that you may have to pay some additional bank charges.

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Which bills and coins in Prague?

Paying for your purchases in Prague is easy. Here are the coins currently in circulation:

  • 1 czk
  • 2 czk
  • 5 czk
  • 10 czk
  • 20 czk
  • 50 czk

When it comes to banknotes, there’s plenty to choose from! You’ll find denominations of 100, 200, 500, 1000, 2000 and 5000 Czech crowns.

As you may have noticed, the Czechs don’t yet take centimes into account. Prices are therefore rounded off, so you don’t end up with too many small coins in your wallet.

Exchange rates in Prague: don't be fooled

If you follow these tips to the letter, your trip to Prague shouldn’t cost you your left arm in commissions and exchange rates. In fact, you won’t find anything better than the points listed above.

So you can enjoy your trip to the Czech Republic without feeling like you’ve been cheated right from the start! Last but not least, beware of dealing with street vendors. We also insist that you avoid EURONEXT exchange offices.