I am a bit confused, perhaps you can help. Do I need koruna's for currency when in Prague or can I use euro's? Why are the hotel rates quoted in euro's?

You need Czech crowns in Prague. The hotel prices are probably quoted in euros because the vast majority of all tourists in Prague are from countries that use the euro.

You will need korunas.

Sjoerd's reason for using the euro in quotes is probably correct. Many hotels do quote their rates both in crowns and in euro.

The Czech Republic will become part of the EU in May, 2004. Many changes have already occurred. We found that Euros were willing accepted everywhere in May of this year. However, the exchange rates are not great, so it would be better to get korunas from a bank or look around for better exchange rates.

This topic was recently discussed in another thread. Anyway, yes, Czech Rep joins the EU in May, but WILL NOT convert to the Euro right away. Prices that are quoted in Euros are for reference only, so that people can get an idea of an item's value. You will be charged in Koruna. You will need to have Koruna as your paper $ - even after May 2004.