Part of Czechoslovakia until the "velvet divorce" in January 1993, the Czech Republic has a robust democratic tradition, a highly-developed economy, and a rich cultural heritage.
It emerged from over 40 years of Communist rule in 1990, and was the first former Eastern Bloc state to acquire the status of a developed economy. It joined the European Union in 2004.
Communist rule had lasted since 1948, when the restored pre-war democratic system was overthrown in a Soviet-backed coup. The "Prague Spring" of 1968, when Communist leader Alexander Dubcek tried to bring in liberal reforms, was crushed by Warsaw Pact tanks.
In 1989, as the curtain was coming down on communism in the Kremlin, the dissident playwright Vaclav Havel emerged as the figurehead of the country's "velvet revolution" and became the first president of post-communist Czechoslovakia.
It emerged from over 40 years of Communist rule in 1990, and was the first former Eastern Bloc state to acquire the status of a developed economy. It joined the European Union in 2004.
Communist rule had lasted since 1948, when the restored pre-war democratic system was overthrown in a Soviet-backed coup. The "Prague Spring" of 1968, when Communist leader Alexander Dubcek tried to bring in liberal reforms, was crushed by Warsaw Pact tanks.
In 1989, as the curtain was coming down on communism in the Kremlin, the dissident playwright Vaclav Havel emerged as the figurehead of the country's "velvet revolution" and became the first president of post-communist Czechoslovakia.
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Czech Republic
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The currency of the Czech Republic is the koruna (crown), plural koruny or korun. The currency code CZK is often used internationally, but the local symbol is Kč (for koruna česká).
Coins are issued in 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 issued in 100 Kč (aqua), 200 Kč (orange), 500 Kč (red), 1000 Kč (purple), 2000 Kč (olive green) and 5000 Kč (green-purple). See some banknote samples. Be aware that all 50 Kč and 20 Kč banknotes, older haléř coins, and older-style 1000 Kč and 5000 Kč banknotes before 1993 are no longer legal tender.
Some major stores (mainly bigger chains) will accept euros, and it's also fairly common for accommodation providers to also quote in euros. In shopping areas along the Austrian border and petrol stations in the whole country, change can be given in euros, but supermarkets and similar stores in downtown Prague (and other cities) will return only koruna, even though they may accept euros.
Coins are issued in 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 issued in 100 Kč (aqua), 200 Kč (orange), 500 Kč (red), 1000 Kč (purple), 2000 Kč (olive green) and 5000 Kč (green-purple). See some banknote samples. Be aware that all 50 Kč and 20 Kč banknotes, older haléř coins, and older-style 1000 Kč and 5000 Kč banknotes before 1993 are no longer legal tender.
Some major stores (mainly bigger chains) will accept euros, and it's also fairly common for accommodation providers to also quote in euros. In shopping areas along the Austrian border and petrol stations in the whole country, change can be given in euros, but supermarkets and similar stores in downtown Prague (and other cities) will return only koruna, even though they may accept euros.
Money exchange offices (směnárna) are commonly found across the country, mostly in larger towns and cities. However, never exchange money on the street, as it is illegal and usually a scam (and you may easily end up with counterfeit or foreign banknotes). It is possible to exchange money in banks, although commission charges are often attached. Be very careful when you are exchanging money at small exchange kiosks. Some of them try to use tricks in order to give you a bad exchange rate (eg. the displayed very good exchange rates are valid for transactions over 50,000CZK / 2000€ only). Ask for the total amount you will get and recompute it by yourself. Beware that once you hand over your money, it is legally a binding offer and it is very hard to cancel the transaction if you don't have strong arguments that they cheated. Do not trust "0% commission" in big letters signs either, as often there is an "only when selling CZK" amendment in small letters, and buying CZK still includes a commision. Exchange and XE.com offer up to date exchange rates for nearly all currencies.
Generally, exchange offices at the airport, rail stations and main tourist areas do not offer good rates. Local people exchange money in exchange offices in less frequented places away from prominent tourist locations. In some cases, one can get a better rate by using ATMs (bankomat) instead of changing cash.
Major stores and petrol stations throughout the country accept chip+PIN or contactless Visa and EC/MC, as well as most shops and restaurants throughout the country. Stripe cards are usually fine to use but their acceptance is declining.
Compared with other Western European countries, the Czech Republic is often considered as an affordable location that does not destroy your account balance.
Generally, exchange offices at the airport, rail stations and main tourist areas do not offer good rates. Local people exchange money in exchange offices in less frequented places away from prominent tourist locations. In some cases, one can get a better rate by using ATMs (bankomat) instead of changing cash.
Major stores and petrol stations throughout the country accept chip+PIN or contactless Visa and EC/MC, as well as most shops and restaurants throughout the country. Stripe cards are usually fine to use but their acceptance is declining.
Compared with other Western European countries, the Czech Republic is often considered as an affordable location that does not destroy your account balance.
