Czech Crown (CZK), Ceska Koruna (Kc) 1 CZK = 100 hellers, 1 KCZ = 100 haleru
The unit of Czech money is the Ceska koruna, or Crown, abbreviated KC or CZK (for Koruna Ceska). A crown is divided into 100 Haler, or Heller (h). Notes come in 5000, 2000, 1000, 500, 200, 100 and 50 KCZ denominations and coins in 50, 20, 10, 5, 2, and 1 KCZ and 50 h sizes
. All old notes from the days of united Czechoslovakia ceased to be legal tender in the Czech Republic in October 1993, so beware of being offered Czechoslovak currency. The Czech crown is now freely convertible on world currency markets, exchange rates are fixed daily on the Prague Stock market. While the Czech currency is floating and could increase or decrease at any time, it rarely falls below a rate of 30 KCZ to one US dollar.
How to exchange money
The cityÂ´s main foreign-exchange banks are:
Ceska obchodni banka
Banks charge 2-3% commission for cash exchange are generally open Mon-Fri. 08.00 - 17.00. At other time or at the weekend you can use some Bureau de change offices in the centre of Prague.
Chequepoint - several locations throughout the centre mostly in the best tourist locations. They charge up to 9% commission for cash or cheques!!! Open 24 hours a day!!!
Exact change - generally the same service as Chequepoint
E-travel - opened daily 08.00 - 22.00 CET time (8.00 - 20.00 November - March), 2-4% commission
Note: ask for net rate before you decide to change to avoid misunderstandings from visibly 'best' rates on the shopping windows boards.
Thomas Cook and AMEX travellers' cheques can be converted to crowns free of charge at the American Express and Thomas Cook offices.Most banks charge 1-2% commission for travellersÂ´cheques, most hotels charge about 5%.
You can find them close to any bank in the centre of Prague, in the most tourist routes and on the airport as well. VISA, EC/MC and Meastro cards are welcomed there.