Where can you check today’s exchange rate? (official link)
You can always verify the current CZK→EUR reference rate here:
https://nbs.sk/statisticke-udaje/kurzovy-listok/denny-kurzovy-listok-ecb/ (National Bank of Slovakia)
(The reference rate is an informational figure published by the central bank; commercial banks and exchange offices use their own rates and may add markups.) (National Bank of Slovakia)
When is the rate updated?
- ECB typically publishes reference rates on business days in the afternoon; they are calculated against one euro and are for informational purposes. (National Bank of Slovakia)
- CNB announces rates on business days after approx. 14:30 (valid for that business day and usually also for the weekend). If you’re following the rate from the Czech side, you’ll find it on the CNB website. (Czech National Bank)
Where to exchange CZK to EUR with the smallest losses
- Card payments in the Czech Republic: at the terminal, choose to pay in CZK (the local currency). You’ll avoid so-called DCC (Dynamic Currency Conversion), where the merchant/ATM offers settlement in euros with a markup compared to the ECB reference rate. (eur-lex.europa.eu)
- ATM withdrawals: likewise, decline DCC and let the transaction go through in CZK; the conversion will be done by your card/bank under its own rules. In the EU, DCC providers must show the percentage markup over the latest ECB reference rate before you confirm the payment. (eur-lex.europa.eu, Finance)
- Exchange offices and banks: compare the final amount in euros, not just the “rate on the board.” The difference comes from the spread and fixed fees charged by individual providers. (You can also find a comparison with the ECB reference rate directly on the ECB website.) (European Central Bank)
- Fintech/online exchanges: on business days they tend to offer better rates; at weekends, extra charges may apply. Check the terms in your app and always review the final amount in euros before confirming.
Practical steps (quick checklist)
- At a POS terminal and at an ATM, choose the local currency (CZK) (not EUR). (eur-lex.europa.eu)
- Check the rate via the official link and compare it with your bank’s/exchange office’s offer. (National Bank of Slovakia)
- With cash, keep in mind that a better “no-fee rate” may actually be worse than a rate with a small fixed fee—the final outcome in euros is what matters.
- For online exchanges, watch for weekend markups and no-fee limits.
Video: How DCC works and which currency to choose when paying
A short explanation for everyday travelers (YouTube – direct link, just paste it into Gutenberg):
Sources
- ECB – Czech koruna (CZK) – euro reference exchange rate (overview and chart): https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/eurofxref-graph-czk.en.html
- NBS – ECB daily exchange-rate list (current link to check the rate): https://nbs.sk/statisticke-udaje/kurzovy-listok/denny-kurzovy-listok-ecb/
- CNB – Central bank exchange rate fixing (rate announcement and publication time): https://www.cnb.cz/en/financial-markets/foreign-exchange-market/central-bank-exchange-rate-fixing/central-bank-exchange-rate-fixing/
- EUR-Lex – Regulation (EU) 2019/518 (transparency of conversion fees and displaying the markup over the ECB rate): https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX%3A32019R0518
Jana
I like turning curiosity into words, and writing articles is my way of capturing ideas before they slip away — and sharing them with anyone who feels like reading.
