| Schilling |
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Information AboutSchilling |
| CATEGORIES ABOUT AUSTRIAN SCHILLING | |
| economy of austria | |
| history of austria | |
| currencies replaced by the euro | |
| currencies of europe | |
| modern obsolete currencies | |
The ''Schilling'' was the Currency of Austria until 1999, when the Euro was introduced at a fixed parity of €1 = 13.7603 Schillings. The "Schilling" was divided into 100 Groschen . Originally launched in "new" notes were introduced which could also be exchanged in certain amounts for the old ones. The currency stabilised 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 System in 1971 , the Schilling was initially tied to a basket of currencies, and then in July 1976 the Schilling was coupled to the Deutsche Mark . Although the euro became the official currency of Austria in 1999, euro coins and notes were not introduced until 2002 . Old Schilling denominated coins and notes were phased out from circulation by 28 February of that year. Schilling banknotes and coins will remain exchangeable for euros at any branch of the Austrian National Bank ''(Österreichische Nationalbank)'' indefinitely. At the time of the changeover to the Euro, Coin s in circulation were {Link without Title}
Coins under 10 groschen were rarely seen in circulation during the final years of validity. Coins of 100 schillings and higher were also issued for collectors, but did not circulate. Austria n Banknote s in circulation were (until 2001 before Euro ) {Link without Title} EXTERNAL LINKS
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