🇨🇿 Prague Money Guide

Currency: Czech Koruna (Kc)
Currency Code: CZK
Exchange Rate: 1 USD ≈ 23 CZK (April 2026)

The Czech Republic uses the Czech Koruna (Crown, Kc or CZK), not the Euro, despite being an EU member. This catches many tourists by surprise. Bills come in 100, 200, 500, 1,000, 2,000, and 5,000 Kc denominations, with coins from 1 to 50 Kc. While some tourist-oriented businesses accept Euros, the exchange rate they offer is terrible — always pay in Czech Koruna. ATMs are the best way to get cash — use machines from major Czech banks like Ceska Sporitelna, CSOB, or Komercni Banka. Critically, avoid the Euronet ATMs (bright blue machines) that are everywhere in the Old Town and tourist areas — they offer predatory exchange rates and aggressive "guaranteed rate" screens that are 10-15% worse than the bank rate. When using any ATM, always select "withdraw without conversion" and decline the offered exchange rate. Card acceptance is good in restaurants, hotels, and larger shops. Contactless payments work well. Smaller traditional pubs (hospody), market stalls, and tram ticket machines may still require cash. Having 500-1,000 Kc on hand is recommended. If you need to exchange cash, use reputable exchanges like Exchange on Kaprova street (near Old Town Square) — never use exchanges on tourist-heavy streets like Karlova or near Charles Bridge where rates can be 20% worse.

Czech tipping customs fall between Western and Eastern European norms. In restaurants, 10% is standard for good service. The common method is to tell the server how much you want to pay in total when they bring the bill — for example, if the bill is 470 Kc, you say "pet set" (five hundred). Do not leave money on the table; hand it to the server directly. At pubs, rounding up to the nearest 10-20 Kc is sufficient. Hotel porters receive 50-100 Kc per bag, and housekeeping 50-100 Kc per night. Taxi drivers are tipped by rounding up — 10% is generous. Tour guides receive 100-200 Kc per person for good tours. At spas in Karlovy Vary, 10% is standard. Tipping in Czech Republic is always appreciated but not as aggressive as in the US — local staff will not chase you down for a tip.

Prague has cleaned up significantly in recent years, but several scams persist. The Predatory Currency Exchange is the biggest trap — exchanges on Karlova Street, near Charles Bridge, and on Wenceslas Square advertise "0% commission" but use terrible exchange rates, effectively charging 10-20% in hidden markups. Some even have different rates for "buying" and "selling" displayed in confusing formats. Always calculate the exact amount you should receive before handing over cash, and only use recommended exchange offices. The Taxi Overcharge scam has improved with ride-hailing apps, but unlicensed taxis at the airport and Old Town Square still use rigged meters or "forget" to start them, then charge 2-3x the normal fare. Always use Bolt, Liftago, or the official AAA taxi service and ensure the meter is running. Restaurant Bill Padding occurs in tourist-trap restaurants around Old Town Square — extra items appear on bills (bread, nuts, sauce) that you did not order. Check every item and dispute anything you did not request. The Prague Astronomical Clock area is a pickpocketing hotspot — when crowds gather to watch the hourly show, thieves work the distracted spectators. Keep valuables secure. Street Performers and "Living Statues" on Charles Bridge sometimes block your path and demand payment for photos you did not ask for. The Good Rate Money Trick involves a cashier offering an excellent exchange rate, counting out the bills, then quickly re-counting and palming a large note before handing you the cash — always recount money yourself before leaving the window.

Quick Price Reference

Daily Budget Guide

Prague is one of Western-quality Europe's most affordable capitals. Budget travelers can live well on $40-60 per day with hostels (300-600 Kc/night), traditional Czech pub lunches (goulash with dumplings 120-180 Kc), and the excellent transit system. Czech draft beer is famously cheap — a half-liter of world-class Pilsner Urquell costs 45-65 Kc ($2-3) at local pubs, a fraction of what you would pay in London or Paris. Trdelnik (chimney cake) from street vendors costs 70-100 Kc. Mid-range travelers spending $80-130 per day can enjoy boutique hotel rooms in Mala Strana (1,500-2,500 Kc/night), dinner at traditional Czech restaurants (300-500 Kc), Prague Castle entry (250 Kc), and river cruises (350-500 Kc). Luxury travelers should budget $200+ for 5-star Old Town hotels (4,000+ Kc/night), Michelin dining (1,200-2,500 Kc), and private tours (2,000-5,000 Kc). Money-saving tips: Czech pub lunches (denni menu or poledni menu) offer a full hot meal for 120-180 Kc, served 11am-2pm. Prague Castle grounds are free to enter — you only pay for interior visits. Many beautiful churches are free. The 72-hour public transit pass (330 Kc) is great value. The best beer prices are always away from Old Town Square — walk 5 minutes in any direction.

Non-EU residents can claim VAT refunds on purchases over 2,001 CZK (approximately $87) at participating stores. The Czech VAT rate is 21%, with an effective refund of approximately 12-16%. Request a tax-free form at checkout and present your passport. At Vaclav Havel Airport Prague, visit the customs counter in Terminal 1 or 2 departures, then collect your refund at the refund counter after security. Bohemian crystal, garnet jewelry, and Czech design items are popular tax-free purchases. Larger shops in Prague's shopping centers like Palladium and Na Prikope participate in the scheme.