Currency Exchange in Prague

Wondering what currency is used in Prague? The Czech Republic continues to use its historical currency, the Czech koruna (CZK), just like many other former Soviet bloc countries (except Slovakia). Here's what you need to know about currency exchange and where to change euros or dollars into Czech korunas.

Current Exchange Rate

As of now, the approximate exchange rate is 1 euro = 25 CZK. This rate has been relatively stable over the years, thanks to the Czech Republic's solid economy. To find the current rate, you can use a currency converter for Czech korunas to euros.

Banknotes and Coins

The legal tender includes banknotes of 100, 200, 500, 1,000, 2,000, and 5,000 CZK, and coins in denominations of 1, 2, 5, 10, 20, and 50 CZK. There are no smaller bills or cents.

Where to Exchange Money in Prague

While the euro to koruna exchange rate is generally uniform, it can vary depending on the exchange office. Here's some advice:

Avoid exchanging money at airports, train stations, or on the street: These places often offer less favorable rates and higher commissions.

Be aware of commissions: Some exchange offices advertise 0% commission. Ensure this is accurate, ask for the exact amount you'll receive, and sign only the receipt.

If you've just arrived in Prague without korunas, exchange a small amount at first, then visit a more favorable exchange office in the city center, or withdraw cash from an ATM.

Note that while most shops in central Prague accept euros, this might not be the case in suburban areas. Merchants may also set their own exchange rates.

‍Recommended Exchange Offices

For the best rates without commissions, consider these locations:

Sumar Exchange: Politických vězňů 21, near Wenceslas Square.

Praha Exchange: Jindřišská 12, near Wenceslas Square.

Change: Náměstí Republiky 1078/1, next to Palladium shopping center.

Provaznická Exchange: Provaznická 1, near Mustek Metro.

Avoid changing money on the street to prevent scams. For instance, some scammers might offer you non-existent Belarusian rubles, which resemble Czech korunas but are worthless.

Smart Option: Use your debit or credit card until you have cash. Cards will use the current exchange rate, with commissions depending on your bank. The Revolut card, for example, doesn't charge fees at the current exchange rate.

‍