Introduction

In general, the cost of living in the Czech Republic is lower than in the rest of the EU member states. 
The Czech crown (in Czech “koruna”), abbreviated as Kč (CZK) is the official currency of the Czech Republic. The crown is formally divided into hellers (haléř), which are no longer in use. They are shown in prices and rounded off to the nearest crown. The approximate conversion rate is 100 CZK / 3,9 EUR or 25,4 CZK / 1 EUR. Used coins are 1 Kč, 2 Kč, 5 Kč, 10 Kč, 20 Kč and 50 Kč; used banknotes are 100 Kč, 200 Kč, 500 Kč, 1 000 Kč, 2 000 Kč and 5 000 Kč.

Although the Euro currency is occasionally accepted by some restaurants, hotels and shops, the Czech crown is generally the only currency that can be used. When paying in euros, always check the current exchange rate. Most supermarkets, shops, restaurants and institutions accept the payment by cards. There are many cash machines located especially in the city centre and in the campus as well.