Currency in Czech Republic: CZK Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Czech Republic with the Czech Republic horuna.
What's in this Czech Republic currency guide?
What currency is used in Czech Republic?
The official currency of Czech Republic (country code: CZ) is the Czech Republic horuna, with symbol Kč and currency code CZK.
What is a good Czech Republic horuna exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
Loading rates...
|
|
|
Frequently Asked Questions
What currency should I use in Czech Republic?
The domestic currency in Czech Republic is the Czech Republic horuna.
What is the Czech Republic horuna currency code and symbol?
The three letter currency code for the Czech Republic horuna is CZK — symbol is Kč.
What does the Czech Republic horuna look like?
Here is an example Czech Republic horuna banknote:
Which countries use the Czech Republic horuna?
It is the domestic currency in Czech Republic.
Is the Czech Republic horuna a closed currency?
No, the Czech Republic horuna is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and CZK?
Here are some popular conversion amounts for USD to CZK (US dollar to Czech Republic horuna)*.
*Converted at the current USDCZK interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Czech Republic
Using Wise for Czech Republic horuna travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Czech Republic horuna otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Czech Republic horuna cash before departure, you can save money by ordering online. You generally get better rates and can pick up the CZK cash locally or even on travel day at the airport.
Czech Republic: Travel Guide
Traveling to Czech Republic requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
The Czech Republic is a popular tourist destination in Europe, known for its rich history, culture, and natural beauty. It's also a popular destination for expats due to its relatively low cost of living and good quality of life.
Tourists can explore the country's rich history by visiting its many castles, such as the famous Prague Castle, and Gothic cathedrals, like the St. Vitus Cathedral. The country also has a vibrant cultural scene, with a number of museums, galleries, and theaters.
For those interested in nature, the Czech Republic has many beautiful natural landscapes, including the Bohemian and Moravian forests, as well as the Czech Paradise, which is an area of hills and valleys known for its picturesque towns and castles.
The Czech Republic is also famous for its beer and traditional cuisine, which includes dishes such as goulash, dumplings, and roast pork. Visitors can also experience the country's unique traditional music and dance, and try local dishes such as knedlíky, and many others.
What currency is used in the Czech Republic?
While the Euro is widely accepted the Czech Crown is preferred and you may get Crowns back as change from Euros. While not a huge concern be careful when using money exchange offices. Many of them target tourists, especially in Prague, and you may end up paying a high commission or getting a bad rate without even knowing about it, a Prepaid Travel Card can be useful to not have to worry about this. Never exchange money on the street. In the Czech Republic try to withdraw cash from banks and ATMs, which are everywhere.
Top things to do in the Czech Republic
There are many things to see and do in the Czech Republic, some popular activities include:
1. Visiting Prague: The capital of the Czech Republic, Prague is a beautiful city known for its historic architecture, including the Charles Bridge and the Old Town Square.
2. Touring Castle: The Prague Castle is a must-see attraction, it is the largest ancient castle in the world and contains a number of museums and historical buildings.
3. Visiting Cesky Krumlov: A UNESCO World Heritage Site, this medieval town is known for its well-preserved architecture and picturesque streets.
4. Seeing the Gothic St. Vitus Cathedral in Prague Castle complex
5. Relaxing in the spa town of Karlovy Vary: Known for its hot springs and spas, this town is a popular destination for relaxation and rejuvenation.
6. Hiking and rock climbing in the Bohemian Switzerland National Park
7. Beer tasting in Pilsen, where the famous Pilsner beer was first brewed in 1842
8. Visiting the Old Jewish Cemetery in Prague, it's the oldest surviving Jewish cemetery in Europe.
9. Visiting the Terezín Memorial, it's a former WWII concentration camp and serves as a reminder of the atrocities committed during the war.
10. Going on a boat trip down the Vltava river in Prague, it's a great way to see the city from a different perspective.
Overall, the Czech Republic is a fascinating and welcoming destination for travelers and expats, offering a rich history, culture, and natural beauty, as well as good quality of life at a relatively low cost.
Everyday Costs in in Czech Republic
How much does it really cost to live, work, or travel in Czech Republic? Here's what to expect for daily expenses and expat living.
Currency Guide: Czech Republic (ISO Code: CZ)
For a traveler planning a 1-week mid-range stay in the Czech Republic, a budget of around CZK 25,000 to CZK 30,000 (approximately $1,100 to $1,300) is advisable. This amount covers accommodation, meals, transportation, and some sightseeing expenses. While there are luxurious options available, mid-range travelers will find that the cost of visiting the Czech Republic remains largely affordable. Here’s a brief overview of typical daily expenses in local currency:
- 🍽️ Meal at a local restaurant: CZK 250-400
- ☕ Coffee: CZK 70-100
- 🚍 Public transport fare: CZK 30-50
- 📱 Prepaid SIM card: CZK 300-500
- 🏨 Budget hotel or Airbnb: CZK 1,000-1,800 per night
Overall, the Czech Republic is considered a cheap to average destination for travelers, especially when compared to the United States and the UK, where visiting can be significantly more costly due to higher prices for meals and accommodations. For example, a meal in the US typically costs double that of a similar dish in Prague, while London is even pricier—making the Czech Republic an appealing choice for budget-conscious travelers.
Living in the Czech Republic for Expats
For expats living in the Czech Republic, the average monthly living costs range from CZK 30,000 to CZK 40,000 (approximately $1,300 to $1,700) depending on lifestyle choices. This budget includes rent, groceries, dining out, and other essentials. It's advisable for expats to set up a local bank account to manage their finances effectively. Card payments are widely accepted; however, it’s wise to keep some cash on hand for smaller establishments and markets.
When considering currency exchange, locals typically find it more cost-effective to exchange money at designated services rather than at airports, which can prove more expensive. Online transfer services like Wise or OFX offer competitive rates and lower fees, making them a smart option for sending and receiving money internationally. By using these services, expats can easily manage their finances while enjoying the perks of living in this beautiful central European country.
USD/CZK Market Data
The below interactive chart displays the USD/CZK change and UP📈 DOWN📉 trends over the past 1 Year.
Recent Czech Republic horuna Market News
Currencies in nearby Czech Republic and Hungary were also pulled lower by Poland’s shock rate cut in September. However, the moves have been more muted as analysts say these countries are less likely to deliver monetary policy shocks.
The Czech Republic economy is connected to Germany's, which is in a sort of stagflation.
The German economy has been deteriorating rapidly, with industrial production falling more sharply than forecast.
The Czech National Bank has kept interest rates at 7 per cent since June last year and is expected to hold rates again at its meeting this month. Headline inflation eased to 8.8 per cent in July.
For more CZK information read our News and guides to the Czech Republic horuna.
Send Money to Czech Republic - Best Rates
To get a good (and fair) exchange rate when sending money to Czech Republic you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Czech Republic
When sending money to Czech Republic it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Czech Republic horuna amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted CZK amount will be transfered to the recipient account you specify in Czech Republic.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Czech Republic horuna deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in Czech Republic
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Czech Republic horuna currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the CZK exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Czech Republic horuna bank account: A local CZK bank account can make it easier for you to manage your finances and pay bills while you are in Czech Republic. It may also be more convenient to use a local CZK bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Czech Republic. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Czech Republic. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Czech Republic, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Czech Republic.
Being an expat in the Czech Republic
Expats in the Czech Republic enjoy the relatively low cost of living, compared to other Western European countries. The country has a good healthcare system and a well-developed transportation network, making it easy to get around. The official language is Czech, but most people speak English and it is widely understood.
The cost of living in the Czech Republic is generally considered to be lower than in many other Western European countries. The prices of basic goods and services, such as groceries, transportation, and healthcare, are generally lower than in many other European countries, which can make living in the Czech Republic relatively affordable.
When compared to some other European countries, housing can be relatively affordable in the Czech Republic, however, prices can vary depending on location and type of accommodation. Renting a one-bedroom apartment in the city center can cost around 7,000 CZK (about 270 EUR) per month, while the same type of apartment in a suburban area can cost around 4,500 CZK (about 170 EUR) per month.
Utilities such as electricity, gas, water, and internet can also be relatively affordable, with an average monthly cost of around 2,500 CZK (about 95 EUR) for a standard two-bedroom apartment.
Groceries and eating out can also be relatively inexpensive, with a meal at a budget restaurant costing around 150 CZK (about 6 EUR) and a cup of coffee around 40 CZK (about 1.5 EUR).
Overall, the cost of living in the Czech Republic can be quite reasonable when compared to many other Western European countries. However, as with any country, the cost of living can vary depending on an individual's lifestyle and personal spending habits.