The Czech Republic has been a member of EU since 2004, however we still use our own currency, it’s called “koruna” (Czech Crown = CZK). Unfortunately only ca 20 % of the Czech population (15+ years) are supporting euro adoption.
So yes, when you come to Prague, Czech Republic, the currency is different from Germany, Poland or Hungary. This is extremely uncomfortable. I know. My name is Dana, Prague local guide and also founder of Prague Behind The Scenes – small touring company. Besides being a professional in a travel industry I also enjoy writing about my city – today about money.
What if you only have euro when coming to Prague?
Many downtown located businesses in Prague accept euro as well. Especially those ones operating in a travel industry (including tour guides, public toilets and majority of supermarkets). But don´t count on that. As I mentioned earlier: we still use our own currency called Czech koruna (CZK), and accepting euro is not mandatory.
If you come here only with euros or US dollars or any other foreign currency, you can always exchange it. Just make sure you choose a fair exchange office. It´s not always easy to recognize the right one. Please never exchange money in the streets. Don´t let anyone to take you to some “recommended” or “better” exchange office. Yes, full time crooks in Prague still exist. Don´t talk to them, don´t accept their offers!! You can end up with expired Belorusian rubels or fake money.
Where to exchange money in Prague?
The best exchange office in Prague is called Exchange.cz – located right next to Prague Old Town Square. For 1 EUR you should get there aprox. 24 CZK or more, for 1 USD it will be around 21 CZK and more. Check the current exchange rates here.
Address: Nám. Franze Kafky 2, Prague 1 (corner house with blue/white logo)
However, Prague is very card friendly city. You basically don´t need so much cash when staying here. Honestly, you can perfectly survive without cash and only pay by cards.
How much cash we usually keep in our wallets?
Not much, around 1000 CZK but usually even less as we prefer card payments. If you plan paying cash in Prague, one person should have around 1500 – 2000 CZK / day. To cover all meals, drinks, tickets. But of course you can perfectly survive here with less than that. On the other hand 2000 CZK will not be enough for someone… Bugdet 1500 – 2000 CZK is a good compromise for comfortable stay.
Where will you need cash in Prague?
Let me think….:-) ….five minutes later: ok, there are still places and situations when it´s recommended to have some cash with you. For example farmers markets, some public toilets, free tours, charity, you may also need it at street stalls with refreshments or in small grocery stores, bakeries. Cash is also useful for tipping. And of course, as a back up when a card terminal doesn´t work (or if there is a minimum card spend set). But in general, cards are preferred payment method everywhere in Prague. Regarding the cards – American Express are not always accepted. But Visa and MasterCard are absolutely fine.
Even guides have card terminals!
Yes, Prague is getting more and more cashless! After seven years running my small business and showing my clients around Prague, I also have a portable card terminal in my backpack (10/10 health officers approve this!:-) You can basically pay for your tour after we finish. Hope this new feature will make your transaction a bit more convenient. Handling a cash in the street is a bit old fashioned but still possible on my tours. You can choose.