If you plan to visit Czech republic, you need to be knowledgeable about the currency in this country and places where you can exchange the money in Prague, since it is really a very significant issue. Event if you have a credit card, sooner or later you will have to deal with Czech Koruna. For example, if you would like to buy some souvenirs in Charles Bridge you are sure to have cash money.
They say that next year Czech national currency will be abolished and instead of Korunas there will be Euros in Czech Republic. It is a petty, since to my mind this currency is an indispensable part of culture and history of the country. Though my opinion is only my. Anyway, at the moment tourists need to be aware of how the Czech money looks like and where one can exchange it with no extra charges, limits and commissions.
In the picture below you can see the current situation with the Czech Koruna. You should mind and try to remember how the banknotes look like, in order you are note cheated. The only place where they can cheat at you is the street, but I will tell you about this a bit later.
Never exchange your money in the street!
A lot of tourists every day give their money to swindlers. The latter usually approach newcomers in on of the most popular streets with a dense traffic and offer high rate of exchange. For instance, if the normal exchange rate in Prague Euro to Czech Koruna is about 1 to 25, they will give you 27 or even 28. But after this successful and from the first sight a very reasonable deal you go to a Czech traditional restaurant or to a shop, it occurs, that people do not take your money.
Why so? Because you were given Hungarian Forints instead of Korunas. What are they worthy? One Forint is 10 times cheaper than one Koruna. So if you dare to exchange 100 Euros in the street the most you get is 10 Euros in Hungarian currency. You decide, weather to risk or not. The reasonable question erases: where to exchange money in Prague?
Exchange in Prague
In case you know perfectly well that one should never ever make any money deals in the street, you should be aware of the following situation with exchanges in Prague. The rate may differ from one place to another and also, 9 of 10 exchange offices have either commission or limits. Let me explain to you.
Sometimes if you change the currency in Prague, the office can charge you a certain sum of money as a commission for their service. Actually the size of the commission depends only on the sum you need to change. The tricky thing is that people never read lines till the end and therefore they lose their money. Every exchange office has to make a note, that they charge you for the service, but has anyone ever seen these notes? Several of such tricky places are located near the most popular attraction, for example, at the Old Town Square.
The other tricky thing is that some exchanges in Prague have certain limits. For example 1000 Euros one can change at normal rate of 25 Koruna for each Euro, but if you change less, your rate is going to be 19 Koruna for each Euro. Again, this information is also given at the plate with the rates, but it looks too confusing and people give up reading it and lose their money.
Therefore we would sincerely recommend you the best place to change your Euros, Dollars or any other currency to Czech Koruna with the best possible rate and with no limits and commissions.
Places to change money in Prague
Of course there are a lot of places in Czech capital where one can exchange money. But there are several checked and reliable. This is a place where we have been having money issues solved for recent 6 years already. Therefore we can recommend it to you. So the plan is the following.
If you get to the Wenceslas Square in Prague, it means you are almost round the corner from the place. Leave the statue of St. Wenceslas behind and move down the hill along the right side of the square.
Take the first turn to the right. This is Opletalova Street. Proceed until the crossing and turn left. This is already the street we need: Politických vězňů
So 20 meters farther and you are at the right place. Come inside and get your money changed.
I do hope the scheme gives a clear understanding of where to go in order to change money in Prague. In any case your photographer in Prague is sure to show you the place during the individual sightseeing tour. Moreover, there is one more place worth seeing. Quite opposite this exchange office, there is a good Czech restaurant named Bredovský Dvůr. Good cuisine with reasonable prices.
Just in terns of revision:
- Never exchange your money in the street
- Watch the limits and commission issue
- Do remember the location of recommended exchange in Prague