By Western standards the Czech Republic remains a fairly cheap country. Locally produced food and drink (especially beer) are very good value. Some tourist-orientated restaurants and bars have sharply increased their prices in the last couple of years but they still remain reasonable when compared to those in more Western capitals. The one aspect of a visit that can be considered expensive is accommodation. Hotels in the centre, especially in high season, often charge well over 100 euros per night.
Despite its membership of the EU, the Czechs have not yet joined the Euro and it is unclear when they will do so. The currency is the crown which hovers around 31 to the pound, 27 to the euro and 24 to the US dollar although please note that these rates change regularly. There are exchange offices all around the city but the rates they offer are often poor value and we would advise that you use instead the numerous cash machines in the city. If you do need to use an exchange office we would recommend 'Exchange' at Kaprova 13, very close to the Staromestska metro station. Click here to see their current rates. It is possible to use euros in more touristic places although you will often be charged for the privilege with some non-preferential rates.