Currency: it's koruna, not euro
The single most useful budgeting fact for Prague: the Czech Republic uses its own currency, the Czech koruna (CZK), not the euro. Some very touristy spots near Old Town Square will quote prices in euros to catch you off guard, usually at a worse rate than paying in koruna — always ask for, or switch the till to, CZK if you have the choice.
The exchange booth trap
You'll see currency exchange booths around Old Town Square and Wenceslas Square advertising "0% commission" in huge letters. In practice these tend to offer a dramatically worse exchange rate baked into the numbers, which is legal but designed to look like a bargain. The safer options are: withdrawing koruna from a bank-affiliated ATM (decline any "dynamic currency conversion" offer and let your own bank do the conversion), or using a small number of reputable, transparently-rated exchange offices slightly away from the main squares.
Roughly what things cost
Prices below are a general feel for budgeting, not a live price list — always check current prices for anything you're booking.
- Public transport ticket: inexpensive by Western European standards; a multi-day pass is good value if you're moving around a lot.
- A half-litre of Czech beer in a normal pub: often cheaper than bottled water in a tourist café — genuinely one of the best-value things you can order in the city.
- A sit-down meal: a proper Czech lunch away from the main squares is noticeably cheaper than the same meal three streets closer to Old Town Square.
- Major attractions: Prague Castle's grounds are free; paid interiors and the top attractions (Astronomical Clock tower, museums) each carry their own ticket, and a combined city card can be worth it if you plan to see several.
Tipping
Tipping isn't obligatory but is customary for good service — roughly 10%, or simply rounding up the bill, is the norm in restaurants and for taxis. It's polite to hand the extra amount directly when paying, rather than leaving coins on the table.