Czech Republic Currency

The currency of the Czech Republic is the Czech crown (CZK). In this guide, we will provide an overview of the currency, its history, denominations, and how to use it when visiting the Czech Republic.

History

The Czech crown was introduced in 1993, after the Czechoslovakia split into two independent countries, the Czech Republic and Slovakia. The new currency was adopted to replace the previous currency, the Czechoslovak koruna.

Denominations

The Czech crown comes in coins and banknotes. Coins come in denominations of 1, 2, 5, 10, 20, and 50 CZK, while banknotes come in denominations of 100, 200, 500, 1000, 2000, and 5000 CZK.

Exchange Rates

The exchange rate of the Czech crown varies based on the exchange rate of other currencies. As of February 2023, the exchange rate of the Czech crown is approximately 22 CZK to 1 USD, 26 CZK to 1 EUR, and 28 CZK to 1 GBP.

Using Currency in the Czech Republic

The Czech crown is the only legal currency in the Czech Republic, so visitors will need to exchange their currency for Czech crowns before making purchases. The best exchange rates can often be found at exchange offices, banks, or ATMs, although it’s important to be mindful of fees and exchange rates when making a transaction.

Most businesses in the Czech Republic, including restaurants, shops, and hotels, accept credit cards such as Visa, Mastercard, and American Express, although it’s always a good idea to have cash on hand for smaller purchases or in case of any issues with card payments.

How to pay?

Visitors to Prague can pay for goods and services in a variety of ways, including cash, credit cards, and mobile payment apps. Here’s a brief guide to paying in Prague:

Cash

The Czech crown is the legal currency in the Czech Republic, so visitors should have some cash on hand for purchases, especially when shopping at smaller businesses or markets. The most common denominations are the 100 CZK, 200 CZK, 500 CZK, and 1,000 CZK banknotes, as well as the 1 CZK, 2 CZK, 5 CZK, 10 CZK, 20 CZK, and 50 CZK coins.

Credit Cards

Most businesses in Prague, including restaurants, shops, and hotels, accept major credit cards, such as Visa, Mastercard, and American Express. It’s a good idea to check with the business before making a purchase, as some smaller establishments may only accept cash.

Mobile Payment Apps

Mobile payment apps, such as Apple Pay, Google Pay, and Samsung Pay, are becoming more popular in Prague, particularly among younger consumers. Some businesses in Prague may accept mobile payments, but it’s always a good idea to check with the business before attempting to pay with your mobile device.

Tips

In Prague, tipping is generally expected in restaurants and cafes, although it’s not mandatory. A tip of 10% is customary for good service, although visitors can round up to the nearest whole amount as well.

Banks and ATMs

Prague is a modern city with a well-developed banking system. Visitors will have no trouble finding banks and ATMs throughout the city. Here’s what you need to know about banks and ATMs in Prague:

Banks

There are several major banks in Prague, including Česká spořitelna, Komerční banka, and ČSOB. These banks have branches located throughout the city, making it easy to access banking services. Most banks in Prague offer a variety of services, including currency exchange, ATM withdrawals, and wire transfers.

ATMs

ATMs are also widely available throughout Prague, with most banks having multiple ATMs in various locations throughout the city. Visitors can use their debit or credit cards to withdraw Czech crowns or other foreign currencies. Most ATMs in Prague have an English language option, making them easy to use for non-Czech speakers.

Fees

When using ATMs or exchanging money, visitors should be aware of any fees that may be charged. Some ATMs may charge a fee for withdrawals, and exchange rates may vary between banks and exchange offices. Visitors should compare rates and fees to ensure they get the best deal.

Safety

As with any city, it’s important to be mindful of safety when using ATMs or visiting banks. Visitors should use ATMs located in well-lit areas, and be sure to cover the keypad when entering their PIN. It’s also a good idea to keep an eye on your surroundings and be mindful of any suspicious activity.