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Where to Get the Best Exchange Rates in Prague

A practical guide to finding honest exchange offices (směnárny) in Prague, avoiding tourist traps, and getting the best deal on your currency exchange.

Prague is one of Europe’s most visited cities — and unfortunately, one of the worst when it comes to predatory currency exchange practices. Unlike Poland, where most exchange offices (kantors) play fair, Prague’s směnárny (exchange offices) near tourist hotspots are notorious for misleading rate boards, hidden commissions, and outright scams.

The good news? If you know what to look for, you can exchange money in Prague at rates very close to the mid-market rate. Here’s your complete guide.

The Czech Koruna Situation

The Czech Republic uses the Czech Koruna (CZK), not the Euro. While some tourist-oriented shops and restaurants accept euros, the exchange rate they apply is typically terrible — often 20–30% worse than the real rate. You’ll always get better value paying in CZK.

As of early 2026, 1 EUR ≈ 24.26 CZK. You can check the current ECB reference rate on our EUR/CZK rate page.

How Prague’s Scam Exchange Offices Work

Before we get to the good places, let’s talk about the bad ones — because understanding the tricks helps you avoid them everywhere.

The Buy/Sell Confusion Trick

This is the most common scam in Prague. A směnárna displays a board showing rates like:

         BUY      SELL
EUR    26.50     22.00

Tourists see “26.50” and think they’ll get 26.50 CZK per euro. But that’s the buy rate — what the office pays when they buy euros from you… except it’s not. Many offices deliberately flip the labels, or the “headline rate” on the board is actually the rate at which they sell euros (which would be great for you if you were buying euros, not selling them).

The real rate you get is often the much worse number hidden on the other side of the board.

How to avoid it: Always ask “How many CZK will I get for 100 EUR?” before handing over any money. Get the number confirmed verbally.

The Hidden Commission

Some offices advertise “0% commission!” in big letters on their signs. This sounds great — except the commission is built into a terrible exchange rate. Others advertise attractive rates but charge a separate commission of 5–10% that’s only mentioned in tiny print at the bottom of the rate board or inside the shop.

How to avoid it: Look for the total amount you’ll receive, not just the rate. A good směnárna will have a calculator visible and will show you the final amount before you confirm.

The “No Refund” Receipt Trick

Some dishonest offices will process your transaction quickly, hand you the money, and only then show you a receipt with a rate far worse than what was displayed. Czech law actually requires směnárny to give you a receipt and allow you to cancel the transaction within 3 hours — but many tourists don’t know this.

How to avoid it: Since January 2020, Czech law (Amendment to the Czech National Bank Act) gives you the right to reverse any exchange transaction within 3 hours of completion, as long as you return the full amount of CZK you received. Always keep your receipt.

Where NOT to Exchange Money

Avoid these locations like the plague:

  • Old Town Square (Staroměstské náměstí) — The směnárny surrounding the Astronomical Clock area are among the worst in the city. Rates can be 15–20% worse than the mid-market rate.
  • Karlova Street (the tourist corridor between Old Town Square and Charles Bridge) — Same story.
  • Wenceslas Square (Václavské náměstí) upper end — Tourist-trap territory.
  • Prague Airport (PRG) — The rates here are consistently poor. If you must exchange at the airport, do the absolute minimum and exchange the rest in the city.
  • Hotels — Hotel front desks typically offer very unfavorable rates.

Where to Get Good Rates

1. Exchange — Kaprova 14/13 (Near Old Town)

This is probably the most frequently recommended směnárna in Prague. Located on Kaprova street, just a short walk from Old Town Square but far enough to avoid the tourist-trap markup. They consistently offer rates within 0.5–1% of the mid-market rate with no commission. It gets busy, especially around midday, but the line moves quickly.

2. Směnárna in the Centrum Area

Several honest exchange offices operate around the Centrum (near IP Pavlova, Náměstí Míru, and Flora metro stations). These serve more locals than tourists, which naturally keeps rates competitive. Look for offices with electronic rate boards that match what you actually receive.

3. eXchange on Politických vězňů

Another well-reviewed spot near Wenceslas Square (but not on it). They display clear rates and have a good reputation among both locals and expats.

4. Your Bank’s ATM

Czech ATMs (bankomaty) from major banks like Česká spořitelna, ČSOB, and Komerční banka generally offer decent rates. However, watch out for:

  • Dynamic Currency Conversion (DCC): The ATM may ask if you want to be charged in your home currency. Always say no and choose to be charged in CZK. DCC adds a 3–7% markup.
  • Euronet ATMs: These independent ATMs (bright yellow/blue, found everywhere in tourist areas) are known for unfavorable rates and aggressive DCC prompts. Avoid them.
  • Withdrawal fees: Check with your home bank about foreign ATM fees. Some banks offer fee-free international withdrawals.

5. Paying by Card

In 2026, most restaurants, shops, and services in Prague accept card payments. If your bank doesn’t charge foreign transaction fees (e.g., Revolut, Wise, N26, or many travel-friendly cards), this is often the most convenient option. Just always pay in CZK — never accept the offer to pay in your home currency.

How to Check If You’re Getting a Fair Rate

Before exchanging money, check the current mid-market rate using a reliable source:

  1. FX Europe app — Our free currency converter app uses official ECB reference rates. Check the EUR/CZK rate before you walk into any směnárna.
  2. ECB reference rates — The official ECB rate page shows the daily reference rate published around 4 PM CET.
  3. Google — Simply search “EUR to CZK” for a quick reference.

A good směnárna should offer a rate within 1–2% of the mid-market rate. If the rate is more than 3% worse, walk away.

Quick Math Shortcut

For EUR to CZK, the mid-market rate is roughly 24.26. So for €100, you should get approximately 2,400 CZK (give or take 20–30 CZK for a reasonable spread). If someone offers you 2,200 CZK or less for €100, that’s a ripoff.

Tips for Getting the Best Deal

  1. Exchange larger amounts at once — Some good směnárny offer slightly better rates for larger amounts (€500+).
  2. Go during business hours — The best exchange offices are open standard business hours. Late-night and weekend places near nightlife areas tend to have worse rates.
  3. Avoid exchanging at the border — If you’re driving into Czech Republic, the exchange offices at border crossings and gas stations are generally terrible.
  4. Use your Czech korunas before leaving — It’s harder to exchange CZK back to EUR/USD/GBP outside Czech Republic, and you’ll likely get a worse rate.
  5. Don’t exchange on the street — If someone approaches you offering to exchange money, it’s a scam. Period. This is illegal in Czech Republic.

The Bottom Line

Prague’s currency exchange scene has a well-deserved bad reputation — but it’s entirely avoidable. Stick to recommended směnárny away from the main tourist strip, check the mid-market rate beforehand with FX Europe or the ECB rates page, and never accept a rate without knowing exactly how much CZK you’ll receive.

The 5 minutes you spend finding a good exchange office can easily save you €20–50 on a typical tourist exchange. That’s a nice dinner in Prague — at today’s prices, anyway.