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To secure the best exchange rate in Prague, it is recommended to compare rates at several currency exchange offices and opt for reliable ones located away from tourist hotspots. When it comes to language in Prague, the predominant language spoken is Czech, but English is widely understood and spoken in most tourist areas, making it convenient for visitors to communicate.
Best exchange rate in Prague
If this is your first time in Czech Republic, I’m sure you are wondering where to find the best exchange rates in Prague to buy Czech crowns.
The Czech Koruna is the accepted legal tender in restaurants, shops, and hotels in the country, although promoters may sometimes quote prices in Euros or American dollars for convenience. Read on for tips on where to get the best exchange rates in Prague.
If you’re planning to buy the Czech Republic’s currency ahead of your tour, you must know that currency exchange is not an issue in the Czech Republic.
You can easily access your money in the ATMs that line up when entering the main airport hall after customs clearance when you arrive at Prague airport.
Monetary value of the Czech Crown
The Czech crown, or the Czech Koruna, has been the Czech Republic’s legal tender currency since 1993. The American dollar has weakened against the Czech crown over the years, meaning regional currencies such as the Czech crown are gradually becoming stronger than the euro and the dollar.
To get the best exchange rate in Prague, it is advisable to use reputable currency exchange offices or withdraw cash from ATMs rather than exchanging money at airports or tourist-heavy areas. Regarding clothes in Prague, the prices can vary depending on the store and brand, but generally, you can find a range of options from affordable to higher-end, catering to different budgets and preferences.
The current exchange rate for the Czech Koruna
Against the euro, the Czech koruna has gone up by 5% over the three past months. The rate has exceeded 26 Czech crowns for one euro in recent days. The koruna strengthened further against the dollar, by 8% since early November 2021. A dollar costs about 21.50 crowns.
Where to find the best exchange rate in Prague?
While in the capital of the Czech Republic, you use the Czech crown (CZK, for all your payments. On some premises, Euros are accepted though with lower exchange rates. Therefore, using CZK is better than using euros.
Czech crown banknotes are available in different denominations .For the best rates, go to:
Moneta
This leading bank was established in 1988 and has subsidiaries across the Czech Republic. Not only is it a renowned provider of financial and banking services, but it also offers excellent money change rates.
Česká národní banka
Exchange rates for other denominations are declared monthly on every last working day, and the rates are valid for the whole following month
The rates for other denominations are fixed on the last working day of a month. They are for informational purposes only, and fixing exchange rates with different fixing methods is not incorporated in them.
Exchange s.r.o.
Their services are provided by a team of CNB-trained experts with nine counters. They have been running a money exchange office for both Czech and foreign denominations for ten years.
If you plan to visit Prague, you will need to find the best exchange reate in Prague to change the money. In general, exchange offices offer the best rates. However, some are dishonest, and they will offer you a worse rate than even a shylock would.
A good option is to exchange money at a bank. Banks typically have lower rates than money changers, although they still charge transaction fees.
