2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Austria is an active member of the European Union, so it became one of the first countries to switch from the national currency to the euro.
A Brief History
The currency of Austria was put into circulation on March 1, 1925 and was the official currency of the country until the beginning of 2002. During the Second World War, the Austrian schilling temporarily stopped its circulation due to the fact that Austria was under the yoke of Nazi Germany.
From January 1, 2002, the euro, which remains the state currency, began to be used in the country, as in most EU countries.
National currency of Austria
The Austrian shilling has been the currency of the state since 1925, before that the Austrian krone was used in the country. It depreciated greatly after the First World War, and the country's government decided to change the state currency to another.
The currency of Austria had both paper banknotes and metal coins. The Austrian schilling was divided into 100 groszy. The country had coins in denominations from one to fifty groschen and paper notes worth twenty, fifty, one hundred, five hundred, one thousand and five thousand shillings.
In 1938, the shilling was replaced byReichsmark, as the country became a protectorate of Germany. In 1945, the Austrian currency was returned, but it was redesigned. The new currency was quite stable and practically did not depreciate. Its approximate exchange rate throughout the second half of the twentieth century was 0.04 US dollars.
Currency in Austria now
Almost since the formation of the European Union, Austria has become an active member of it. Therefore, it is not difficult to guess what currency is in Austria now. Of course, this is the euro. Although among the EU countries there were also such states that did not begin to switch to the euro, but retained their national currency, Austria was not among them.
Absolutely all banknotes and coins of this single European currency are in use. The exchange of the national currency for the euro took place in the country at the rate of approximately 13.75 Austrian shillings for one euro.
Course
For one dollar, as already mentioned above, they gave about 26 Austrian shillings.
The modern currency of Austria, the euro, is one of the most popular and stable monetary units in the world. Perhaps only the American dollar is in great demand. Economic indicators and per capita income are among the highest in Europe, few countries demonstrate such success as Austria. The currency before the euro, although it was quite stable, was much less in demand on the world market.
Today's coursethe euro against the ruble is approximately equal to 62-64 rubles. However, due to the unstable economic situation both in Russia and in Europe, the course is constantly changing. If you compare the euro with the US dollar, then for one euro you can get about 1.1 $.
Exchange transactions
When going to Austria, you need to take into account that Russians do not visit this state so often, so not every bank or exchange office works with Russian rubles. The most common foreign currency is the US dollar, it can be exchanged in almost any hotel, bank, exchange office, airport.
Also, there will be no particular problems with the exchange of Czech currency and British pounds. Some financial companies also work with other currencies, mainly European ones. Exchange fees are usually not too high.
The easiest way for a Russian tourist is to exchange their rubles for euros in advance, so that later they don’t have to look for a place where they can change the Russian currency. If you have dollars at your disposal, for example, you receive a salary in US currency, then you can safely take them with you. There will definitely be no problems with the exchange.
Credit cards are accepted almost everywhere in the country, but it is still better to find out in advance whether this method of payment is possible or not. There are ATMs in any city, even a small one. There are a lot of them in the country, so there will be no difficulties with withdrawing cash from your bank card either. The only thing you might not like is the bank fee for such an operation.
It is interesting that when making a purchase for an amount exceeding seventy-five euros, the buyer has the right to return VAT to himself. In Austria it is about thirteen percent. To do this, you will need to take a check from a store called Tax-free. After completing all the necessary actions, you will receive your money back in cash. They will be given to you directly at the customs post when you leave Austria.
Conclusion
The currency of Austria today is not its national currency, as it is used in many other countries. The euro does not cause primary associations with Austria, as a rule, it is perceived as a common European monetary unit.
But, despite the fact that Austria abandoned the shilling and switched to the euro, it has not lost its individuality and zest at all. It is worth coming to this country, because it has a rich history, culture and beautiful mountain nature. And the fact that the country's official state currency is the euro only makes it easier for the traveler to visit this country. After all, all problems with the exchange of money and the loss of a significant part of your funds on commissions are almost completely excluded.
You can bring any monetary unit into the country, be it Russian rubles or Chinese yuan, but it is best to have euros or US dollars with you. Then you can completely eliminate the possibility of any problems associated with the exchange of money. It will be possible to carry out such an operation in almost any part of the country, in any settlement. As for the popularamong tourists of cities, then here you can generally exchange almost any foreign money.
Although Austria's transition to the European currency did not become a fundamental factor for the formation of a common European currency, yet its stable, strong economy played an important role in this process. After all, if the euro were used exclusively in poor, economically disadvantaged countries, then it is unlikely that he could take the position of the world currency along with the US dollar.
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