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Currency in Austria

A practical currency and money guide to travel, living and doing business in Austria and the Euro (EUR).

What's in this Austria currency guide:

Currency Facts for Austria
Travel & Money Ideas
Expat & Business Tips
EUR/USD – Market Data
Compare EUR Exchange Rates

What currency is used in Austria?

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

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.

An example euro banknote

Travel Ideas and Money Tips for Austria

Austria is a country located in central Europe. It is bordered by Germany to the west, the Czech Republic to the north, Slovakia to the northeast, Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the west. The capital of Austria is Vienna, and the official language is German. The currency is the euro.

Austria has a population of about 8.9 million people and is known for its mountainous landscape, with the Austrian Alps taking up a large part of the country. The country has a rich cultural heritage, with a long history of classical music, art, and literature.

The economy of Austria is highly developed and industrialized, with a strong service sector and a thriving export industry. The country is known for its high standard of living, and it is a member of the European Union (EU) and the Schengen Agreement.

Overall, Austria is a picturesque and culturally rich country, with a strong economy and a high quality of life.

Travel tips for Austria

Here are a few travel tips for visiting Austria:

Learn some basic German phrases: While many people in Austria speak English, it is a good idea to learn some basic German phrases, as this will show respect for the local culture and may make it easier to communicate with locals.
Know the customs: Austria has a rich cultural heritage, and it is a good idea to be aware of local customs and traditions. For example, it is customary to take off your shoes when entering someone's home, and it is considered impolite to tip in restaurants.
Stay safe: Austria is a safe country, but it is a good idea to take the usual precautions to stay safe, such as keeping an eye on your belongings and being aware of your surroundings.
Respect the environment: Austria is known for its stunning natural beauty, and it is important to respect the environment and to follow the guidelines for responsible tourism.
Know the weather: Austria has a temperate climate, but the weather can vary depending on the region and the time of year. It is a good idea to check the weather forecast and to pack accordingly.
Use public transportation: Austria has an efficient and reliable public transportation system, and it is a good way to get around the country.
Try local foods: Austria has a rich culinary tradition, and it is a good idea to try some local foods, such as Wiener Schnitzel, Sachertorte, and Kartoffelsalat.

Overall, it is a good idea to be respectful and to do some research before visiting Austria, to make the most of your trip.

Things to do in Austria

Austria is a country with a rich cultural heritage and a diverse landscape, and there are a number of interesting things to do when visiting the country. Here are a few ideas:

Visit Vienna: Vienna, the capital of Austria, is a city with a rich cultural heritage and a vibrant arts scene. It is home to a number of world-class museums and galleries, such as the Kunsthistorisches Museum and the Belvedere, as well as a number of historic landmarks, such as the Vienna Opera and the Schönbrunn Palace.
Explore the Austrian Alps: The Austrian Alps are a stunning mountain range that covers a large part of Austria. The region is known for its ski resorts, hiking trails, and picturesque villages. Some popular destinations in the Austrian Alps include Salzburg, Innsbruck, and Kitzbühel.
Visit the Salzkammergut: The Salzkammergut is a region in Austria known for its beautiful lakes and mountains. It is a popular destination for hiking, swimming, and water sports.
Visit the Wachau Valley: The Wachau Valley is a beautiful region in Austria known for its vineyards, castles, and historic towns. It is a great place to go wine tasting and to explore the local history and culture.
Visit the city of Graz: Graz is the second-largest city in Austria, and it is known for its cultural and architectural heritage. The city has a number of interesting landmarks, such as the Schlossberg, the Landesmuseum, and the Dom im Berg.
Visit the city of Linz: Linz is the third-largest city in Austria, and it is known for its arts and culture. It is home to a number of interesting museums, such as the Ars Electronica Center, and a number of

Is it expensive to ski in Austria?

Skiing in Austria can be expensive, especially if you are planning to stay in a ski resort or to travel during peak season. However, there are ways to save money and to make skiing in Austria more affordable. Here are a few tips:

Look for discounts and deals: Many ski resorts offer discounts and deals on lift tickets and ski rentals, especially if you book in advance or if you are willing to ski during the week instead of on weekends. It is a good idea to do some research and to compare prices from different resorts to find the best deal.
Rent gear instead of buying it: Ski gear can be expensive, especially if you are only planning to ski a few times. It may be more cost-effective to rent gear instead of buying it, especially if you are only planning to ski in Austria for a short period of time.
Stay in a vacation rental instead of a hotel: Vacation rentals, such as apartments or houses, can be a more affordable option compared to hotels, especially if you are traveling with a group.
Eat in instead of dining out: Eating out at restaurants can be expensive, especially in ski resorts. It may be more cost-effective to eat in and to prepare your own meals, especially if you are staying in a vacation rental with a kitchen.
Consider skiing in the off-season: Skiing during the off-season, such as in the spring or the fall, can be less expensive compared to skiing during peak season.

Overall, skiing in Austria can be expensive, but with some planning and budgeting, it is possible to find ways to save money and to make the most of your trip.

Expat Money & Business Guide to 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.

By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in 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.

Managing your finances in Austria

Here we list some key points for expats and businesses to consider when managing financial dealings in Austria:

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 currency exchange service 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.

EUR/USD – Market Data

The exchange rate of euro (EUR), or the amount of EUR that can be exchanged for a foreign currency, can fluctuate rapidly based on a number of factors, including economic conditions, interest rates, and political events. Below you can check the latest EUR/USD rate plus recent trend, chart, forecasts and historic rates.

1 EUR = 1.0776 USD

Sell EUR → Buy USD

EUR to USD at 1.0776 is just 0.5% above its 3-month average of 1.072, having fluctuated within a 4.4% range of 1.0522-1.0989

24-MAR 6PM-NY 10PM-LON 25-MAR 6AM-HK 9AM-SYD

1 USD = 0.9279 EUR

EURUSD :

30-DAY▲HIGH2d

1-DAY▼-0.9%1d

FX analysts are forecasting that the US dollar will continue to outperform the euro in March. The US dollar strengthened in February after robust US labor market data and expectations of more interest rate hikes by the US Federal Reserve. On the other hand, the euro lost ground after the ECB held interest rates steady and issued slightly dovish remarks. Additionally, global GDP growth has been sluggish, and inflation pressures have remained elevated, which will continue to be the main drivers of investor risk sentiment and FX markets. Therefore, based on recent FX analyst forecasts, it is likely that the USD will outperform the euro in March, with key support points for EUR/USD at 1.11 and 1.15. Looking at the USD/EUR price data for the previous three months, the exchange rate has been fluctuating within a 4.4% range of 0.9100-0.9504, with the current rate at 0.9313, just below the three-month average of 0.9331. This indicates that the exchange rate has been relatively stable in recent months, despite the fluctuations. However, it is important to note that factors such as inflation, interest rates, and economic growth can influence exchange rates, and any changes in these factors could impact the USD/EUR exchange rate in March.

Date	EUR/USD	Change	Period
10 Mar 2023	1.0657	1% ▲	2 Week
24 Dec 2022	1.0667	0.9% ▲	3 Month
24 Mar 2022	1.1009	2.2% ▼	1 Year
25 Mar 2018	1.2354	12.9% ▼	5 Year
26 Mar 2013	1.2861	16.3% ▼	10 Year
29 Mar 2003	1.0754	0.1% ▲	20 Year

EUR/USD historic rates & change to 24-Mar-2023

Compare Euro Exchange Rates & Fees

The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make an International Money Transfer to Austria or planning a trip or maybe living there, so will need to exchange and spend Euro.

Loading comparison rates...

Provider	Amounts	Rate	Total Cost

It is important to note that the exchange rate of the euro can change rapidly and that past performance is not necessarily indicative of future performance. It is advisable to carefully consider the risks and factors that may affect EUR exchange rates before making any financial decisions.