The currency is Czech crowns (CZK, in Czech Kč). One crown consists of 100 hellers (halíř). Banknotes come in denominations of 20, 50, 100, 200, 500, 1000, 2000 and 5000 CZK; coins are of one, two, five, 10, 20 and 50 CZK. Heller coins are now out of circulation.

One EURO is worth approx. 29 CZK, one USD equals approx. 22 CZK. The safest and fastest way to get crowns is withdraw them from one of the numerous ATMs around the centre of Prague. Although your bank may charge you some commission for the exchange, they generally give good rates. 

The main Czech banks are the best places to change cash. They may charge 2% commission with a 50 CZK minimum. The rate is usually standard. However, always check, as commissions can vary from branch to branch. Hotels charge about 5% to 8% commission, to change money while Čedok travel agencies and post offices charge 2% - similar rates to the banks.

Try to avoid the many private exchange booths (směnárna) in central Prague - they lure tourists in with attractive-looking exchange rates that turn out to be 'sell' rates (if you want to change foreign currency into Czech crowns, the 'buy' rate applies). There may also be an even worse rate for transactions under a certain amount, typically around €500. Check the small print carefully, and ask exactly how much you will get before parting with any money. 

Credit cards are widely accepted (mainly Visa and Master Cards), in most of the hotels, bigger shops and mid-range restaurants. Nevertheless, cash may be needed in small shops, bars, pubs and local restaurants.