Bank of Montreal CAD to CZK Travel Money Compared

Currency Guide: Czech Republic (ISO Code: CZ)

For a traveler planning a 1-week mid-range stay in the Czech Republic, a budget of around CZK 25,000 to CZK 30,000 (approximately $1,100 to $1,300) is advisable. This amount covers accommodation, meals, transportation, and some sightseeing expenses. While there are luxurious options available, mid-range travelers will find that the cost of visiting the Czech Republic remains largely affordable. Here’s a brief overview of typical daily expenses in local currency:

• 🍽️ Meal at a local restaurant: CZK 250-400

• ☕ Coffee: CZK 70-100

• 🚍 Public transport fare: CZK 30-50

• 📱 Prepaid SIM card: CZK 300-500

• 🏨 Budget hotel or Airbnb: CZK 1,000-1,800 per night

Overall, the Czech Republic is considered a cheap to average destination for travelers, especially when compared to the United States and the UK, where visiting can be significantly more costly due to higher prices for meals and accommodations. For example, a meal in the US typically costs double that of a similar dish in Prague, while London is even pricier—making the Czech Republic an appealing choice for budget-conscious travelers.

Living in the Czech Republic for Expats

For expats living in the Czech Republic, the average monthly living costs range from CZK 30,000 to CZK 40,000 (approximately $1,300 to $1,700) depending on lifestyle choices. This budget includes rent, groceries, dining out, and other essentials. It's advisable for expats to set up a local bank account to manage their finances effectively. Card payments are widely accepted; however, it’s wise to keep some cash on hand for smaller establishments and markets.

When considering currency exchange, locals typically find it more cost-effective to exchange money at designated services rather than at airports, which can prove more expensive. Online transfer services like Wise or OFX offer competitive rates and lower fees, making them a smart option for sending and receiving money internationally. By using these services, expats can easily manage their finances while enjoying the perks of living in this beautiful central European country.