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A major issue in traveling out of your country whether on a business trip or vacation, is having to deal with currency exchange. Different countries use different currencies, and you have to know how your own currency fares in another currency. Why? You literally can’t buy anything if you don’t have the local currency. Think about it this way, no matter the nature and duration of your trip, you’ll definitely need to buy something. Although you have money, it has to be in the form of the local currency before you can use/spend it. A local currency is a generally agreed form of money in use within a country. So when you’re using a different currency, it’ll be unacceptable until it is changed into the local currency.
For Czechia, the local currency is known as the “Czech Koruna” (CZK) which is also known as the “Czech Dollar”. It’s a little lower in exchange rating compared to the US Dollar (USD), so you can exchange or convert 1 US dollar to 21.5 Czech koruna.
Development of the Czech Republic currency on the global market
The word koruna loosely translates to “crown”, and is the currency in use in the Czech Republic. As a member of the European Union (EU), there are plans for the Czech to start using the Euro as its official currency.
The Czech koruna came into the global market in 1993 after the establishment of the Czech Republic. This is after the breakup of Soviet-controlled Czechoslovakia in 1993 into the Czech Republic and Slovakia. It replaced the then Czechoslovak koruna and is produced in coins and currency notes.
Current rates of the Czech Koruna
The Czech koruna is listed in the global foreign exchange market. It has the following exchange rates for major currencies:
1 GBP (British Pound) = 29.233 Czech Koruna
1.00 Euro = 24.4 Czech Koruna
1.00 CHF (Swiss Franc) = 23.24 Czech Koruna
1.00 CAD (Canadian Dollar) = 17.04 Czech Koruna
Current exchange rate of the Czech Koruna to USD
The Czech koruna is currently exchanged at the rate of 1 CZK to 0.05 USD. The equivalent is 1 US Dollar = 21.5 Czech Koruna. If you’re with $10, you can easily exchange it for 215 CZK.
Exchanging your currency into the local CZK is an important part of your travel and sightseeing plan. You can exchange your currency directly at any of the banks in Prague, or you can opt for exchanging at any authorized foreign exchange merchants. To avoid getting ripped off the actual value for whatever currency you hold, it’s best you get acquainted with the current exchange rate of the Czech koruna with your actual currency. Real-time information on exchange rates can easily be gotten online.