Are you planning a trip to the beautiful city of Prague? It’s essential to familiarize yourself with the local currency, exchange rates, and general expenses to make the most of your experience. In this guide, we address the most common questions about money and prices in Prague to help you better understand and manage your travel budget.
1. What is the local currency in Prague?
The local currency in Prague, Czech Republic, is the Czech Koruna (CZK), often referred to as “crown” in English. Banknotes are available in denominations of 100, 200, 500, 1,000, 2,000, and 5,000 CZK, while coins come in 1, 2, 5, 10, 20, and 50 CZK.
2. What is the exchange rate for converting USD/EUR/GBP (or other currencies) to Czech Koruna (CZK)?
Exchange rates are constantly fluctuating. To get the most accurate and up-to-date conversion rates for your currency, it’s best to check a reliable source like a financial news website, your bank’s website, or a currency converter app.
3. Where can I exchange my money for CZK, and what is the best place to do so?
There are several options for currency exchange in Prague, including banks, exchange offices, and ATMs. Generally, it’s best to avoid exchanging money at the airport or popular tourist spots, as they tend to have less favorable rates. Instead, look for reputable exchange offices or banks with competitive rates and low or no commission fees. It’s also a good idea to compare rates at multiple locations before making a transaction.
4. Can I use credit cards or debit cards in Prague, or is cash preferred?
Credit and debit cards are widely accepted in Prague, especially at hotels, restaurants, and larger shops. However, some smaller businesses, street vendors, or public transportation ticket machines may only accept cash. It’s always a good idea to carry some local currency with you for these situations.
5. Are there any ATMs available for withdrawing cash in CZK, and what are the fees?
ATMs are readily available throughout Prague, and most accept international cards. Keep in mind that fees may apply for using an ATM, including transaction fees from your bank and the local bank. It’s best to check with your bank before traveling to understand any fees associated with international withdrawals.
6. What is the general price range for accommodation in Prague?
Accommodation prices in Prague can vary greatly depending on the type and location. Budget travelers can find hostels or budget hotels for as low as 300-800 CZK per night, while mid-range hotels may range from 1,000-2,500 CZK. Luxury hotels and boutique establishments can cost anywhere from 3,000 CZK and up.
7. How much does public transportation cost (tickets for trams, buses, and the metro)?
Public transportation in Prague is quite affordable. A single ticket for trams, buses, or the metro costs around 24 CZK for a 30-minute ride or 32 CZK for a 90-minute ride. You can also purchase a 24-hour pass for 110 CZK or a 72-hour pass for 310 CZK. Don’t forget to validate your ticket before using public transportation to avoid fines.
8. What is the average price for a meal at a restaurant, and what can I expect to pay for street food or fast food?
The cost of dining in Prague varies depending on the type of establishment. You can expect to pay around 150-300 CZK for a meal at a casual restaurant, while fine dining establishments may charge 400 CZK and up. Street food and fast food options are usually quite affordable, with prices ranging from 50-150 CZK. Keep in mind that prices may be higher in popular tourist areas.
9. Are there any tipping customs in Prague? If so, how much should I tip?
Tipping is customary in Prague, although not as strictly enforced as in some other countries. Generally, it’s appropriate to tip 10-15% of the total bill at restaurants, depending on the level of service. For taxi rides, it’s common to round up to the nearest 10 CZK or tip about 10% of the fare. When tipping, it’s better to hand the tip directly to the service provider or clearly state the total amount you’d like to pay, including the tip.
10. What is the cost of entry to popular tourist attractions, such as Prague Castle, Charles Bridge, and the Astronomical Clock?
Many of Prague’s tourist attractions are free to visit, including Charles Bridge, Old Town Square, and the exterior of the Astronomical Clock. However, some attractions may charge an admission fee. For example, entry to Prague Castle’s various attractions ranges from 250-350 CZK for adults, depending on the type of ticket. Always check the official websites of the attractions you plan to visit for the most accurate and up-to-date pricing information.
In conclusion, understanding the local currency, exchange rates, and general expenses in Prague will help you better manage your travel budget and enjoy your trip to this beautiful city. With this guide, you’ll be well-prepared to make the most of your experience in the enchanting capital of the Czech Republic.