Exchanging money in Prague is not an easy task. In the center of the city there is an incredible number of exchange offices at every corner, and you can exchange almost any currency. You must be very careful when choosing the right exchange office though. Most exchange places in the city center will take around 28% commission fee.This percentage is outrageous!
You must look for 0% commission fee sign on the exchange office. If the official exchange rate is for example 1€-27 CZK then the exchange offices will exchange at the rate of 1€ for 22 to 26.5 maybe even 27 CZK. It is up to you to find the right one. The exchange offices that will exchange for above 26 are not that hard to find even in the city center.
Banks in Prague will exchange money for around 1€- 26.1-26.2 CZK.
(!) Be careful before handing out the money and always ask. Even though there is the 0% commission sign and the rate exhibited in front or inside the office is favorable (for example, 1€-26.8 CZK) this doesn’t mean you’ll get 26.8 CZK. They usually just say: “Oh no, that is the official rate, we exchange at the rate 1€-22 CZK”.