Lexi Webster
Austria's currency is the Euro, which was introduced in 1999 and has been in use since 1 January 2002. The Euro is divided into 100 cents, and banknotes are available in denominations of 5, 10, 20, 50, 100, 200, and 500. Before the adoption of the Euro, the Austrian currency was the Schilling, which was replaced at a rate of 13.7603 Schillings to 1 Euro. The Schilling was in use from 1925 to 1938 and then from 1945 to 1999. This paragraph provides an introduction to Austria's current and former currencies, and the following sections will delve further into the history, usage, and practical considerations for travellers.
| Characteristics | Values |
|---|---|
| Currency Name | Euro |
| Symbol | € |
| Number of Euros in 1 Schilling | 13.7603 |
| Number of Cents in 1 Euro | 100 |
| Euro Banknotes | 5, 10, 20, 50, 100, 200, 500 |
| Euro Coins | 1, 2, 5, 10, 20, 50 cents, 1 and 2 euros |
| Currency Card | Wise Euro Card |
| Former Currency | Schilling |
| Former Currency Symbol | ATS |
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What You'll Learn
The Euro is the official currency of Austria
The Euro is also the official currency of 19 other countries in the Eurozone, including Belgium, Germany, Ireland, Greece, Spain, France, Italy, and Cyprus, among others. This means that visitors from these countries do not need to exchange their money when visiting Austria, and vice versa.
Before the introduction of the Euro, the Austrian Schilling was the country's official currency. The Schilling was established by the Schilling Act of 20 December 1924 and issued in 1925, replacing the Krone that had been used during the monarchy. The Schilling was abolished in 1938 following Germany's annexation of Austria, when the German Reichsmark became the official currency. After World War II, the Schilling was reintroduced in 1945 by the Allied Military. It circulated until 2002, when it was replaced by the Euro.
Although the Euro is Austria's official currency, some prices in the country may be listed in other currencies. For example, some ATMs give users the option to withdraw money in Euros or their home currency. Additionally, some businesses may offer to charge customers in their home currency. However, it is always best to choose to pay in Euros to avoid unfavourable exchange rates.
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The Schilling was the former currency of Austria
The Schilling was the currency of Austria from 1925 to 1938 and from 1945 to 1999, and it continued to circulate until 2002. The Schilling was divided into 100 groschen. The currency was established by the Schilling Act (Schillingrechnungsgesetz) of 20 December 1924, at a rate of one schilling to 10,000 kronen, and it was issued on 1 March 1925.
In medieval Austria, there were short and long schilling coins, valued at 12 and 30 pfennigs respectively. The schilling was abolished in 1938 when Germany annexed Austria, and the German Reichsmark became the official currency. The schilling was reintroduced after World War II on 30 November 1945 by the Allied Military, who issued paper money in denominations of 50 groschen, 1, 2, 5, 10, 20, 25, 50, 100, and 1000 schillings.
The currency stabilised in the 1950s, with the schilling being tied to the US dollar at a rate of $1 = 26 schillings. Following the breakdown of the Bretton Woods system in 1971, the schilling was initially tied to a basket of currencies until July 1976, when it was coupled to the German mark.
The Schilling was replaced by the Euro in 2002, at an exchange rate of 1 Euro = 13.7603 Schillings. The Euro became the official currency of Austria in 1999, but Euro coins and notes were not introduced until 2002. The Oesterreichische Nationalbank continues to exchange schilling banknotes and coins for Euros for an unlimited period.
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Euro banknotes come in denominations of 5, 10, 20, 50, 100, 200 and 500
The currency in Austria is the Euro, which has been the case since January 1, 2002. Euro banknotes come in denominations of 5, 10, 20, 50, 100, 200 and 500. However, the two highest-denomination notes, the 200 and 500 euro notes, are seldom used. In fact, using these notes in stores in Vienna may result in staff refusing to accept them.
The Euro currency is shared with numerous other European countries within the Eurozone, including Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Portugal, Slovenia, Slovakia, Croatia, Finland, Estonia, Latvia, and Lithuania.
The Euro replaced the Austrian Schilling, which was the country's currency from 1925 to 2002, with a brief interruption from 1938 to 1945 when the German Reichsmark became the official currency. The Schilling was introduced at a rate of one schilling to 10,000 kronen and was replaced by the Euro at a rate of approximately 13.7603 Schillings to 1 Euro.
Euro banknotes can be obtained from ATMs, which are called "Bankomaten" in Austria, and are common in Austrian towns and cities. However, it is recommended to carry smaller notes and coins for smaller purchases, as some shops and market vendors may not have enough change for the higher-denomination notes.
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Euro coins come in denominations of 1, 2, 5, 10, 20 and 50 cents, as well as 1 and 2 euros
The currency used in Austria is the euro, which has been in use since 2002. The euro is also the common currency of many other European countries within the Eurozone, including Belgium, Germany, Ireland, Greece, Spain, France, Italy, and Portugal.
Before the adoption of the euro, the Austrian currency was the schilling, which was replaced at a rate of 1 euro to 13.7603 schillings. The schilling was in use from 1925 to 2002, with a brief interruption from 1938 to 1945 when the German Reichsmark became the official currency.
Today, visitors to Austria can use euro coins and notes for their purchases and payments without any problems. However, it is worth noting that while €200 and €500 notes are accepted, they are rarely used and may not be welcomed by smaller stores.
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ATMs in Austria are called 'Bankomaten'
The official currency in Austria is the Euro, which has been in use since 2002. It replaced the Schilling, which was used between 1925 and 2002. The currency is made up of euro banknotes in denominations of 5, 10, 20, 50, 100, 200, and 500 euros, and coins of 1, 2, 5, 10, 20, and 50 cents, as well as 1 and 2 euros.
ATMs, which are called "Bankomaten" in Austria, are widely accessible and can be found in most towns and cities. They are particularly common in retail centers in larger cities such as Vienna and Salzburg. Foreign debit cards can often be used to withdraw cash in euros from these ATMs, although it is important to notify your bank before traveling to avoid any issues with your card being blocked due to suspected suspicious activity.
It is recommended to carry cash when visiting Austria, as smaller shops and grocery stores may only accept cash payments. Additionally, some public toilets and museum lockers require coins for access. Major credit and debit cards are widely accepted at larger retailers, restaurants, and hotels, but it is important to be aware of potential fees and poor exchange rates when using foreign cards.
To find the nearest "Bankomaten" in Austria, you can use websites such as Bankomat-Suche or Bankomatfinder.at, although these sites may be in German.
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Frequently asked questions
The currency in Austria is called the Euro.
Before the Euro, Austria used the Schilling, which was introduced in 1925 and replaced the Krone used during the monarchy. The Schilling was abolished in 1938 when Germany annexed Austria and the German Reichsmark became the official currency. The Schilling was reintroduced after World War II in 1945 and was replaced by the Euro in 2002.
The Euro banknotes in Austria are available in denominations of 5, 10, 20, 50, 100, 200 and 500, while the coins are available in 1, 2, 5, 10, 20 and 50 cents, as well as 1 and 2 euros.
