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Economy and Finance

Austria and the euro

Austria joined the European Union in 1995 and was one of the first countries to adopt the euro on 1 January 1999.


Euro area member since 1 January 1999

Fixed conversion rate

1 = 13.7603 AST

Adoption of the euro

 The euro banknotes and coins were introduced in Austria on 1 January 2002, after a transitional period of three years when the euro was the official currency but only existed as 'book money'. The dual circulation period – when both the schilling and the euro had legal tender status – ended on 28 February 2002.

Exchange of former national currency

The Österreichische Nationalbank (Austrian National Bank) continues to exchange schilling banknotes and coins for an unlimited period.