Foreign Currency Direct
Bank Exchange Rates for Czech Republic
Bank Exchange Rates for the Czech Republic - CZK - Czech Koruna - Kč.
Coins are available in the following denominations: 1, 2, 5, 10, 20 and 50 Kč and banknotes are available in denominations of 100, 200, 500, 1,000, 2,000 and 5,000 Kč, although the 5,000Kč banknote is rarely used.
Bank Exchange Rates for Czech Koruna
Replacing the Czechoslovak koruna in 1993, the Czech koruna was introduced by stamping the new name and denomination on the old banknotes, though a new series of banknotes were introduced later in the year.
One koruna is equal to 100 Haleru. However, Haleru coins have been taken out of circulation due to their diminished value and lack of purchasing power.
Currency Rate for Czech Koruna
Czech Republic Currency- CZK Overview:
The currency of Czech Republic is the Czech Koruna (CZK). In English language, we also refer it as Czech crown. 1 Czech Koruna is equal to 100hellers (coins). Since September 2008, heller coins are not in use; however, we may find it on the price tags of
products. It's called 'Kc' in shops and 'CZK' in banks. The cost is rounded off to the nearest Czech crown while buying a product.
Currency Rate for Czech Republic
Are there any restrictions on the amount of money taken into Czech Republic:
Anyone entering Prague from outside the EU (European Union) with 10,000â‚¬ or more in cash (including banker's draft and cheques) needs to declare the same with the custom authorities. No restriction if a person is arriving from an EU country. Other than this there are no restrictions, we can carry any currency with us and can exchange it in the airport or in the city. We can use
the ATM's and Banks to get the best conversion rate.
What are the substitute currencies in Czech Republic and why:
Although Czech Republic is a part of the EU states, Euro is not widely accepted within Czech Republic. However, some of the big shopping centres, restaurants, hotels accept payment in Euro; but the conversion rate is not pretty high. As per a 2016 survey, only 17% of people have voted to adopt the Euro.
Czech Republic Brief Economic Trend:
The economy of Czech Republic is quite strong and robust. It is counted as one of the best industrialized economies with the EU having a GDP per capita of 19, 200â‚¬. The mainstay of the countries' economy is the automotive industry. However, in the last few years, with a down time in the automotive sector, the policy makers are exploring other sectors such as technology, service-based industries to name a few.
Czech Republic Quick Facts:
- Czech Republic Population - 10.5million.
- Czech Republic GDP (PPP) - $332.5 billion.
- Czech Republic Growth - 4.2%
- Czech Republic Unemployment - 5.2%.
- Czech Republic Inflation - 0.3%.
- Czech Republic FDI Inflow - $1.2 billion.
Main Country Banks: There are 16 major banks in Czech Republic these are
- Banco Popolare Ceska republica - One of the largest Italian Bank operating since 1867. It has over 2300 branches and offers its services to approx. 3 million people.
- Calyon Bank - Started operations in 1991. Rated among the top foreign banks and caters mainly to corporate wholesale banking.
- Ceskoslovenska obchodni banka - It's a universal bank operating since 1964. This bank is focussed on foreign trade financing.
- Czech Export Bank - Started in 1995 as a specialized banking institution for the support of exports.
- Czech National Bank- This bank was formed in 1993 on the formation of Czech Republic.
- Czech-Moravian Guarantee and Development Bank - 1992.
- GE Money Bank.
- HSBC Bank plc- Operating since 1997 in Czech Republic, established in 1865
- Hypotecni banka, a.s- January 2005.
- J&T Banka- 1998 Komercni banka -5th largest banking group-20 million clients across the world.
- PPF banka, a.s.
- Raiffeisenbank, a.s.
- Unicredit Bank- 5th November 2007.
- Volksbank CZ- 1993.
- Wustenrot hypotecni banka, a.s - 1921.