Schilling
| Schilling | |
|---|---|
 |  |
| 1 schilling (1983) | |
The Schilling was the currency of Austria until the Euro exchange in 1999. The rate is one Euro for 13.7603 Schillings.
The "Schilling" was divided into 100 Groschen.
Originally launched in 1924 at a rate of 1 schilling to 10,000 Austro-Hungarian kronen, the Schilling was abolished in the wake of the Anschluss (1938), when it was exchanged at a rate of 1 Reichsmark to 1.5 Schillings, and reintroduced after WWII on November 30, 1945 by the Second Austrian Republic. The exchange rate to the Reichsmark was 1:1, limited to 150 Schillings per person. With a second "Schilling" law in November 1947 "new" notes were introduced which could also be exchanged in certain amounts for the old ones. The currency stabilized in the 1950s, with the Schilling being tied to the U.S. Dollar at a rate of $1 = 26 Schillings. Following the breakdown of the Bretton Woods Agreement in 1971, the Schilling was initially tied to a basket of currencies, before in 1976 the Schilling was coupled to the Deutsche Mark.
Euro coins and notes were introduced in 2002, the old Schilling being phased out from circulation on 28 February of that year. Schilling banknotes and coins will remain exchangeable for euros at the Austrian National Bank (Österreichische Nationalbank) indefinitely.
External links
- Österreichische Nationalbank (http://www.oenb.at/) (in German).
- ÖNB Money Museum - "From the Schilling to the Euro" (http://www.oenb.at/en/ueber_die_oenb/geldmuseum/oesterr_geldgeschichte/schilling/from_the_schilling_to_the_euro.jsp)
de:Österreichischer Schilling it:Scellino austriaco