Current Exchange Rates of Czech National Bank
Live rates at 07.03.2014
Czech Currency Information
The monetary unit / official currency of Czech Republic is Czech Crown (Ceska Koruna) abbreviated as Czk (international) or Kč (czech). 1 Czech Koruna is divided then to 100 hellers. The Czech money consists of 7 banknotes (50, 100, 200, 500, 1000, 2000, 5000) and 7 coins (50 hellers, 1 Czk, 2 Czk, 5 Czk, 10 Czk, 20 Czk, 50 Czk).
Please, see the picture to know how the banknotes look like. It can avoid you being cheated!
Tips for Exchanging Money
First of, credit cards are accepted in most of the stores, hotels, restaurants and there is an ATM practically on every corner. So you can withdraw money whenever you want, you don't really need to exchange too much. But if you decide so, please read the following tips on how to safely exchange your money. The problems are very similar to those in any frequently visited city in the world.
Be aware of people offering money exchange services on the streets, usually for great exchange rates. You are very likely to be cheated or robbed. The most known stories are about cheaters selling cheap Bulgarian money instead of Czech. Therefore please, memorize how the Czech banknotes look like. Other cheaters when selling Czech money use to put worthless papers between the regular banknotes, so it looks like a big amount of money. When you start counting and realize you have been cheated, they’re gone.
Exchange offices on the airport, railway or bus stations or anywhere in the streets are completely legal and robber-safe, but some of them use unethical business practices. Even if you see a big sign that they offer money exchange services with 0% commission, be careful. The two most usual tricks are the following: They are showing the exchange rates of SELLING Czech Crowns, so the rates look very nice for you, but your rates for BUYING Czech Crowns are completely different/worse. The other trick is that they show you very good buying exchange rates, but there is a small sign that those rates count only when buying more than 40.000 Czk (or some similarly high amount).
So where to exchange your money? Although you may not get the best rates, the banks are the safest places offering money exchange services. Among the banks with the most offices in Prague and the whole Czech Republic are CSOB (Cesko-slovenska Obchodni Banka), KB (Komercni Banka) and Ceska Sporitelna.
Last note about handling your money: Do not open your purse on public overcrowded places, you just give robbers a chance!