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    Austria Currency Guide: Explore with the Euro

    Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Austria with the Euro

    Austria

    What currency is used in Austria?

    The official currency of Austria (country code: AT) is the Euro, with symbol and currency code EUR.

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    Frequently Asked Questions

    What currency should I use in Austria?

    The domestic currency in Austria is the Euro.

    What is the Euro currency code and symbol?

    The three letter currency code for the Euro is EUR — symbol is .

    What doe the Euro look like?

    Here is an example Euro banknote:

    Which countries use the Euro?

    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.

    Is the Euro a closed currency?

    No, the Euro is freely available and convertible. See guide: What is a closed currency?

    What are equivalent amounts of USD and EUR?

    Here are some popular conversion amounts for USD to EUR (US dollar to Euro)*.

    USD EUR
    $ 1 0.9527
    $ 5 4.7635
    $ 10 9.5270
    $ 20 19.05
    $ 50 47.64
    $ 100 95.27
    $ 250 238.18
    $ 500 476.35
    $ 1,000 952.70
    $ 2,000 1,905
    $ 5,000 4,764
    $ 10,000 9,527
    $ 20,000 19,054
    $ 50,000 47,635
    $ 100,000 95,270
    USD EUR
    $ 1.0496 € 1
    $ 5.2480 € 5
    $ 10.50 € 10
    $ 20.99 € 20
    $ 52.48 € 50
    $ 104.96 € 100
    $ 262.40 € 250
    $ 524.80 € 500
    $ 1,050 € 1,000
    $ 2,099 € 2,000
    $ 5,248 € 5,000
    $ 10,496 € 10,000
    $ 20,992 € 20,000
    $ 52,480 € 50,000
    $ 104,960 € 100,000

    More amounts

    *Converted at the current USDEUR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.

     

    Things to know about the Euro

    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 banknotes and coins

    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.

    Austria

    Travel money for Austria

    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

    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.

    Currency in Austria

    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.

    Travel Tips for Austria

    When visiting Austria, here are a few currency-related travel tips:

    • Currency exchange: If you're bringing non-euro currency, it's best to exchange it at official currency exchange offices or banks rather than at airports or tourist centers, where rates might not be as favorable.
    • Tipping culture: In Austria, tipping is customary but not mandatory. When dining out, it is common to round up the bill or leave a tip of 5-10%, usually given directly to the server.
    • Card payments: While major credit cards (Visa, Mastercard) are widely accepted in cities, some smaller businesses, particularly in rural areas, may only accept cash. It’s a good idea to always have some euros on hand.
    • Tax-free shopping: For non-EU residents, Austria offers tax-free shopping. If you're making large purchases, you can request a tax refund at participating stores. Make sure to get a VAT refund form and present it at customs when leaving the EU.

    Things to Do in Austria

    Austria offers a wide range of activities for travelers, from exploring its cities to adventuring through the Alps:

    • Visit Vienna: Austria's capital is a cultural gem, home to world-class museums, historic landmarks like Schönbrunn Palace, and famous opera houses. You can use euros throughout the city, and major attractions typically accept cards.
    • Explore the Austrian Alps: Known for their breathtaking beauty, the Austrian Alps are ideal for skiing, hiking, and other outdoor activities. When visiting ski resorts or mountain villages, having some cash on hand is useful, as smaller vendors might not accept cards.
    • Tour the Wachau Valley: Famous for its vineyards and historical sites, the Wachau Valley offers scenic landscapes and opportunities for wine tasting. You’ll find plenty of ATMs in the towns, but smaller wine producers may prefer cash payments.
    • Discover Graz and Linz: These cities offer a mix of cultural attractions, including architectural wonders, art galleries, and museums. Euros are accepted everywhere, and card usage is widespread.

    Skiing in Austria: Costs and Currency Tips

    Skiing in Austria is a popular activity, but costs can add up quickly. Here's how to make your ski trip more affordable:

    • Look for ski pass deals: Many resorts offer discounts on lift tickets if purchased online or in advance. Some areas also offer multi-resort passes for added savings.
    • Rent equipment: Renting ski gear is often more cost-effective than purchasing, especially for short stays.
    • Plan for expenses in euros: While most ski resorts accept cards, local ski huts, and small businesses might prefer cash, especially in remote areas. Make sure to have some euros ready for food, drinks, and smaller purchases while skiing.

    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.

     

    USD/EUR Market Data

    The below interactive chart displays the USD/EUR change and UP📈 DOWN📉 trends over the past 1 Year.

     
    1 USD =
    0.9527We compare provider deals to this wholesale mid-market rate. Read more
    EUR
      1 EUR = 1.0496 USD   (Inverse rate)
     
    Tracker

    Manage Tracker   

    Send Money to Austria - Best Rates

    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.


    Get a better deal for foreign transfers to Austria

    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 :

    1. Open an account with a BER reviewed FX provider (id docs may be required)
    2. You specify the local or Euro amount you want to transfer
    3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
    4. Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in Austria.

    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!

     
    Austria

    Managing money while living and working in Austria

    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.

    1. 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.

    2. 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.

    3. 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.

    4. 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.

    5. 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.

    Austria

    How is the Austrian economy?

    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).

    Is it expensive to live in Austria?

    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.

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