Sunday, August 7, 2022

Money & Shopping in Czech Republic

EuropeCzech RepublicMoney & Shopping in Czech Republic

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Currency

The Czech Republic’s currency is the koruna (crown), plural koruny or korun. The currency sign K (for Koruna eská) is used both globally and locally, while the currency code CZK is often used both internationally and locally. However, it is more common to see quantities written as “37,-” with no “Kč” appended at all. One koruna is made up of 100 halé (haléřů), (used to be shortened to hal.), but from October 2008, coins have only been produced in full koruna values.

Coins are available in denominations of 1 Kč, 2 Kč, 5 Kč (all stainless steel), 10 Kč (copper-colored), 20 Kč (brass-colored), and 50 Kč (copper-colored ring, brass-colored center). Notes are available in denominations of 100 Kč (aqua), 200 Kč (orange), 500 Kč (red), 1000 Kč (purple), 2000 Kč (olive green), and 5000 Kč. (green-purple). Keep in mind that all 20 Kč and 50 Kč banknotes, halé coins, and older-style 1000 Kč and 5000 Kč banknotes from 1993 are no longer legal tender.

Some significant shops (mostly larger chains) take euros, and it’s also quite usual for lodging providers to offer prices in euros. Although change is provided in euros in shopping areas near the Austrian border and at fuel stations across the nation, supermarkets and comparable shops in central Prague (and presumably other cities) return just Kč, despite accepting euros.

Currency exchange

Never exchange money while walking along the street. Also, if you’re in Prague, avoid exchanging your money in tourist-oriented exchange offices. There is no “black market” with higher rates, but you are likely to wind up with a roll of useless paper. When exchanging money at a tiny exchange kiosk, use extreme caution. They attempt to employ deception in order to provide you with a poor exchange rate. Request the entire amount you will get and recalculate it yourself. Do not put your faith in large letter signs that say “0 percent commission” (often there is an “only when selling CZK” amendment in small letters, and buying CZK still includes a commission).

In general, exchange offices in airports, train stations, and major tourist streets do not provide competitive rates. Locals exchange money in exchange offices in less-frequently visited locations, such as the “Politickch vz,” “Opletalova,” or “Kaprova” streets. In certain instances, utilizing ATMs instead of converting cash may result in a higher rate. At a pinch, you may also try a bank like eská spoitelna – there will be a little fee, but the rates are considerably better than in the “tourist trap” exchange offices.

Major businesses across the nation, as well as all tourist shops in Prague, accept Visa and EC/MC.

Tipping

Although tipping is traditional in the Czech Republic, it has nothing to do with the amount of the bill and is more of a token of gratitude. To make the bill even, it is customary to round it up by a few crowns. Aside from locations frequented by foreigners, leaving a “tip” on a table after a meal at a restaurant is not the norm; in fact, locals may protest to it.

Tipping at tourist restaurants is customarily 10% and is not usually included to the bill. Don’t be misled by the percentage numbers at the bottom of the bill; according to Czech legislation, a receipt must indicate the VAT paid (21 percent in most instances) – the VAT is already included in the final price, and you should add 10% to this. It is customary to leave a gratuity for the waiter before leaving the table. Tipping is not required; if you were dissatisfied with the services provided, do not tip.

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