Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Austria with the Euro
What's in this Austria currency guide?
The official currency of Austria (country code: AT) is the Euro, with symbol € and currency code EUR.
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The domestic currency in Austria is the Euro.
The three letter currency code for the Euro is EUR — symbol is €.
Here is an example Euro banknote:
It is the domestic currency in   Eurozone, Aaland Islands, Andorra, Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, French Guinea, French Southern Territories, Germany, Greece, Guadeloupe, Vatican City, Ireland, Italy, Luxembourg, Malta, Martinique, Mayotte, Monaco, Montenegro, Netherlands, Portugal, Reunion, Saint Barthelemy, Saint Martin, Saint Pierre and Miquelon, San Marino, Slovakia, Slovenia and Spain.
No, the Euro is freely available and convertible. See guide: What is a closed currency?
Here are some popular conversion amounts for USD to EUR (US dollar to Euro)*.
*Converted at the current USDEUR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The euro (ISO: EUR) is involved in slightly more than 30% of all foreign exchange deals, and as such, is the world’s second most traded currency, behind the US dollar.
The euro is the currency of the eurozone (officially called the ‘euro area’), which consists of 19 of the 28 member states of the European Union, and is used by almost 350 million Europeans. It was introduced in January 1999.
Of all the thousands of exchange rates that exist in the world, the euro-to-US dollar exchange rate is the most actively traded, or most ‘liquid’.
Since its introduction, the euro’s lowest value against the dollar came in October 2000 when EUR/USD hit lows of 0.8231. The currency was strongest in July 2008, shortly before the worst stage of the 2007-2009 financial crisis, when EUR/USD reached 1.6038.
There are currently more than twenty nations and territories which peg their currencies to the euro, the largest of which is Denmark.
The Euro is issued in banknotes of €5, €10, €20, €50, €100, €200, and €500, and in coins of 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, €1, and €2.
The banknotes feature images of historical and cultural figures from across the European Union, while the coins depict each member country's unique design. The design of the Euro banknotes and coins is intended to be easily identifiable and difficult to counterfeit.
Using Wise for Euro travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Euro otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Euro cash before departure, you can save money by ordering online. You generally get better rates and can pick up the EUR cash locally or even on travel day at the airport.
Austria, located in central Europe, is a landlocked country bordered by Germany, the Czech Republic, Slovakia, Hungary, Slovenia, Italy, Switzerland, and Liechtenstein. Its capital city, Vienna, is renowned for its rich history and cultural significance. Austria is part of the European Union (EU) and the Schengen Zone, with German as its official language.
Austria uses the euro (€) as its official currency, like many of its neighboring EU countries. Euros are available in banknotes and coins, with denominations ranging from 5 to 500 euros for notes, and 1, 2, 5, 10, 20, and 50 cents as well as €1 and €2 coins.
While most places in Austria accept credit and debit cards, especially in cities and tourist areas, it's wise to carry some cash, particularly in rural areas or smaller establishments, where card acceptance may be limited. ATMs, locally known as "Bankomats," are widely available throughout Austria for cash withdrawals in euros. Be mindful of potential international transaction fees if you're using a card from outside the eurozone.
When visiting Austria, here are a few currency-related travel tips:
Austria offers a wide range of activities for travelers, from exploring its cities to adventuring through the Alps:
Skiing in Austria is a popular activity, but costs can add up quickly. Here's how to make your ski trip more affordable:
With proper planning and awareness of Austria’s currency practices, you can make the most of your visit, whether you’re exploring cultural landmarks or hitting the slopes.
The below interactive chart displays the USD/EUR change and UP📈 DOWN📉 trends over the past 1 Year.
To get a good (and fair) exchange rate when sending money to Austria you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
When sending money to Austria it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Euro deposited into the recipient bank account and less margins and fees kept by the banks!
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Euro currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the EUR exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Euro bank account: A local EUR bank account can make it easier for you to manage your finances and pay bills while you are in Austria. It may also be more convenient to use a local EUR bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Austria. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Austria. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Austria, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Austria.
The economy of Austria is highly developed and industrialized, with a strong service sector and a thriving export industry. Austria has a GDP of about $497 billion, making it one of the wealthiest countries in Europe. The country is known for its high standard of living and has a low unemployment rate of about 5.4%.
The service sector is the largest contributor to the economy, accounting for about 75% of GDP. The industrial sector, including manufacturing, construction, and energy, accounts for about 25% of GDP. Austria is a major exporter of machinery, equipment, and other manufactured goods, and it is also a major producer of automobiles, steel, and chemicals.
Agriculture and forestry account for a small share of the economy, but Austria is known for its high-quality agricultural products, including dairy, livestock, and fruit. The country is also a major producer of wood and wood products.
Overall, the economy of Austria is diverse and highly developed, with a strong service sector and a thriving export industry. The country has a high standard of living and is a member of the European Union (EU).
Austria is known for its high standard of living, and the cost of living in the country is generally higher compared to other countries in Europe. The cost of living in Austria can vary depending on the region and the city, with prices generally being higher in the major cities, such as Vienna, Salzburg, and Innsbruck.
Housing costs in Austria are generally high, especially in the major cities. Rent prices for apartments can vary widely depending on the location, size, and quality of the property. It is generally more expensive to rent an apartment in the city center compared to the suburbs.
Food and grocery costs in Austria are similar to other countries in Europe. Dining out at restaurants can be expensive, especially in the major cities.
Transportation costs in Austria are generally reasonable, with public transportation being widely available and relatively affordable. Gas prices are similar to other countries in Europe.
Overall, the cost of living in Austria is generally higher compared to other countries in Europe, but it is still possible to find ways to save money and to live comfortably in the country. It is a good idea to do some research and to budget carefully when living in Austria.