The currency of Austria: history, characteristics, course and interesting facts

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2018-04-03 16:10:17

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Austria is an active member of the European Union, therefore, became one of the first countries that adopted national currency to the Euro.

Brief history

Currency of Austria put into circulation on March 1, 1925 and was the official monetary unit of the country until the beginning of 2002. During the Second world war, the Austrian Schilling was temporarily ceased circulation due to the fact that Austria was under the yoke of Nazi Germany.

currency Austria

From 1 January 2002 on the territory of the country, as in most EU countries, began to use the Euro, which remains the national currency.

The national currency of Austria

Austrian Schilling was the currency of the state in 1925, before this the country used the Austrian Krone. It depreciated strongly after the First world war, and the government decided to change the political currency to another.

Currency of Austria had both paper banknotes and metal coins. The Austrian Schilling was divided into 100 pennies. There were coins from one to fifty pennies and paper bills cost twenty, fifty, one hundred, five hundred, one thousand and five thousand shillings.

Austria's currency before the Euro

In 1938, the Schilling was replaced by the REICHSMARK, as the country became a protectorate of Germany. In 1945, the currency of Austria was returned, but she had changed the design. The new currency was quite stable and almost never lose their value. Its approximate course throughout the second half of the twentieth century was equal to 0.04 us dollar.

Currency in Austria is now

Almost from the inception of the European Union Austria became an active member. Therefore, it is not difficult to guess what is the currency in Austria now. Of course, it is the Euro. Although among the countries of the European Union were those States that did not adopt the Euro and has retained its national currency, Austria was not among them.

national currency of Austria

In the course of absolutely all notes and coins of this single European currency. The exchange of national currency to the Euro took place in the country at the rate of approx 13,75 Austrian shillings per Euro.

Course

For one dollar, as already discussed above, gave about 26 Austrian shillings.

Modern currency Austria Euro – this is one of the most popular and stable currency in the world. The big demand is, perhaps, only the us dollar. Economic indicators and income per capita-are among the highest in Europe, not many countries are showing similar success as Austria. The currency to the Euro, though, was quite stable, but used considerably less demand on the world market.

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the currency in Austria is now

Today, the Euro against the ruble is approximately equal to 62-64 of the ruble. However, due to the unstable economic situation in Russia and in Europe the rate is constantly changing. If you compare the Euro with US dollar, one Euro to about 1.1 dollars.

Exchange operations

Going to Austria, you need to consider that the Russians are not so often visited this country, so Russian rubles works not every Bank or exchange office. The most common foreign currency is the American dollar can be exchanged in almost any hotel, Bank, exchange office in the airport.

Also, do not have any problems with the exchange of Czech currency and British pounds. Some financial firms also work in other currencies, mainly European. The exchange fee, usually not too high.

The easiest way Russian tourists in advance to exchange their rubles for euros, so you do not look for a place where you can exchange Russian currency. If you have available the dollars for example, get paid in us currency, then you can take them with you. Problems with the exchange it will not be exact.

The country is almost everywhere accept credit cards, but it's better to know in advance whether such a payment method or not. There are ATMs in any city, even small. Their country very much, so difficulties with cash withdrawals with your credit card, too, will not occur. The only thing you may not like it, – Bank Commission for such transaction.

what is the currency in Austria is now

The Interesting thing is that when you make a purchase in excess of seventy-five Euro, the buyer is entitled to recover the VAT yourself. In Austria this is about thirteen percent. To do this you need to take check out of the store, which is called Tax-free. After the implementation of all necessary actions, you will get back your money in cash. They will give you directly at the customs office when you leave Austria.

Conclusion

Currency of Austria today is not its national currency, as used in many other countries. The Euro does not cause the priority of Association with Austria, as a rule, it is perceived as a common European currency.

But, despite the fact that Austria refused the shilling and switched to the Euro, it has lost none of its personality and highlights. In this countryto come, because it has a rich history, culture and beautiful mountainous nature. And the fact that the country's official currency is the Euro only makes it easier for the traveler visiting this country. After all the problems with the exchange of money and the loss of a significant part of their funds on commissions almost completely eliminated.

The country can bring in any currency, whether Russian rubles or Chinese yuan, but it is best to have euros or us dollars. Then you can completely eliminate the possibility of any problems associated with the exchange of money. To carry out such an operation will be possible in almost any part of the country, in every village. As for the popular tourist cities, I can convert almost any foreign money.

Although the transition of Austria to the European currency was a fundamental factor for the formation of the common European currency, yet its stable, strong economy played an important role in this process. After all, if the Euro was used only in poor, underdeveloped countries, it is unlikely that he was able to take a position as a world currency alongside the us dollar.


Article in other languages:

AR: https://www.tostpost.com/ar/finance/1355-the-currency-of-austria-history-characteristics-course-and-interesting.html

BE: https://www.tostpost.com/be/f-nansy/2327-valyuta-a-stry-g-storyya-asabl-vasc-kurs-c-kavyya-fakty.html

DE: https://www.tostpost.com/de/finanzen/2325-w-hrung-in-sterreich-geschichte-merkmale-verlauf-und-interessante-fakt.html

ES: https://www.tostpost.com/es/finanzas/2330-la-moneda-de-austria-la-historia-las-caracter-sticas-el-curso-y-los-he.html

HI: https://www.tostpost.com/hi/finance/1355-the-currency-of-austria-history-characteristics-course-and-interesting.html

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KK: https://www.tostpost.com/kk/arzhy/2328-valyuta-avstriya-aza-stan-tarihy-erekshel-kter-kurs-zh-ne-yzy-ty-fakt-.html

PL: https://www.tostpost.com/pl/finanse/2331-waluta-austrii-historia-opis-kurs-i-ciekawe-fakty.html

PT: https://www.tostpost.com/pt/finan-as/2328-moeda-ustria-a-hist-ria-as-caracter-sticas-o-curso-e-fatos-interessant.html

TR: https://www.tostpost.com/tr/maliye/2333-para-birimi-avusturya-tarihi-zellikleri-ders-ve-ilgin-ger-ekler.html

UK: https://www.tostpost.com/uk/f-nansi/2330-valyuta-avstr-stor-ya-osoblivost-kurs-c-kav-fakti.html

ZH: https://www.tostpost.com/zh/finance/1427-the-currency-of-austria-history-characteristics-course-and-interesting.html






Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

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