Money

The local currency is called the Czech Crown (česká koruna) or . The exchange rate at the present time (February 2003) is approximately 1 USD = KČ 28. 1 KČ is divided into 100 haléř. The paper bills come in 5000, 2000, 1000, 500, 200, 100, 50 and 20 denominations. The haléř coins are 10, 20 and 50 haléř (soon to be taken out of circulation) and crown coins are 1, 2, 5, 10, 20 and 50.

It is not advisable to change money on the street with anyone. Sometimes strangers offer unusually high exchange rates to unsuspecting tourists who then end up with counterfeit currency or currency of a different country. The US Dollar is not accepted in stores and restaurants as it used to be during the former regime. Therefore, it is necessary to change your US Dollars (or any other currency) into Czech Crowns. Many institutions will change your dollars, however the exchange rate and fees differ greatly. The best is a bank (not always open when you need it), then your hotel and last the many modern, conveniently situated exchange places throughout town. These exchange places charge as much as 10% ... some of them! Therefore, the best advise is to take some cash with you and then use your ATM card to get more as you need it. Don’t forget your pin!  ATM machines are located everywhere, will give you money in Czech Crowns already and your bank calculates the exchange. An ATM fee is charged as well but is similar to ATM charges in the USA.

Traveler’s checks are accepted in some places only. Banks charge a fee ... if they exchange them at all! There are 2 American Express offices in Prague but even they are not always open. Travelers checks issued by other banks are even harder to change, therefore, don’t bring them at all. Credit cards are accepted in most places, although not all. It is best to check with your guide in advance.


 

These are copies of legal Czech banknotes,

Czech Crowns (Česká koruna), taken from the internet site of the Czech National Bank and are for informational purposes only.

 

They are not actual size.