Currency in Austria
The euro is the currency of Europe, Germany, Malta, Cyprus, Zimbabwe, Vatican City, Spain, Slovenia, Slovakia, San Marino, Portugal, Netherlands, Montenegro, Monaco, Andorra, Luxembourg, Kosovo, Italy, Ireland, Greece, France, Finland, Estonia and Belgium and Austria and has the symbol €. The currency abbreviation according to ISO 4217 is EUR.
The first coins found in Austria date from the time of the Celts. The first coinage in Austria took place in the year 1000. At that time, the Babenberg Margrave Leopold III was in charge.
The currency in Austria was minted for several centuries by the thaler and the cruiser. The origin of the Kreuzer currency came from Tyrol, that of the taler from the Joachimstal in Bohemia.
When Maria Theresa ruled Austria, the famous Maria-Theresien-Taler (name of the convention thaler at that time) was created. The thaler was then replaced by the guilder.
The old Austrian currencies
The gulden (Reichsgulden) was the official currency in Austria until the introduction of the krona currency in 1892. The guilder was minted in silver and gold as well as in different weights.
During the golden age of the guilder in Austria, the Polish and Dutch guilder were also created. Around 1900, one guilder was worth around two kilograms of beef or ten kilograms of bread.
The krona was introduced in 1892 parallel to the guilder and then disappeared in 1922 (times of high inflation and currency devaluation). At the beginning of the war in 1914, one crown received around three kilograms of bread.
The introduction of the shilling
After the great inflation at the beginning of the twenties in the last century, the Schilling was introduced as the new currency in Austria in 1924. The shilling was popularly known as the “Alpine dollar”. The reason for the name was the stability of the currency during this time.
After Austria was annexed to the German Reich in 1938, the Reichsmark was introduced as the currency.
From November 30, 1945 after the end of the war and the first currency reform, the schilling was reintroduced. It was possible to use the Reichsmark at a ratio of 1; 1 to be exchanged for schillings.
At the end of 1945, the first banknotes in shillings were brought onto the market. In 1950 the price of a pair of shoes was 150 shillings. The introduction of the euro
More about the Austrian Schilling
The euro was introduced in Austria on January 1, 199 as book money and January 1, 2002 as a means of payment. At the same time, the euro was introduced in 15 countries of the monetary union at the same time.
The exchange rate of one euro is exactly 13.7603 schillings. The euro coins in circulation in Europe have the same obverse. Various motifs from the 15 nations are embossed on the back.
