In regard to vacation in Prague, money exchange is one of the most commonly discussed subjects.
Quite often the travellers rack their brains trying to find the best ways and the best places to change money. I have small knowledge of the Russian realities, so in this article I can share the information only about the best places to change euros and dollars.
In Prague there are plenty of exchange offices. You can find them at the airport, nearly at every hotel, in banks, in shopping malls and in the streets.
The airport and hotels offer the worst exchange rates which are usually 10-20% higher than those offered by shopping malls.
If you need money to get from the airport to the city and for your first metro trip it’s preferable to get Czech crowns beforehand at home.
Be very careful when changing money in an exchange office. First of all check what the commission is before you buy even if it offers rate with 0% commission. Ask also for the rate. We had an incident in Prague when we entered an exchange office that from outside looked solid and legitimate with many well dressed employees inside. We asked for the rate and it turned out to be 50% higher than that offered by any exchange offices located just across the street.
A lot of exchange offices are located in Panska Street and 28 Rijna Street close to Wenceslas Square.
We found the best rate in the exchange office of the Palladium shopping mall. It is also recommended to avoid exchanging money with street money changers. Frankly speaking, we didn’t come across any of them. But I read about incidents with travellers getting false money instead of crowns.