The schilling was the currency of Austria from 1924 to 1938 & 1945 to 1999, and the circulating currency until 2002. The euro was introduced at a fixed parity of €1 = 13.7603 schilling to replace it. The schilling was divided into 100 groschen.
The schilling was established by the Schilling Act (Schillingrechnungsgesetz) of December 20, 1924 at a rate of 1 schilling to 10,000 Austro-Hungarian Kronen & issued on March 1, 1925. The schilling was ab...
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The schilling was the currency of Austria from 1924 to 1938 & 1945 to 1999, and the circulating currency until 2002. The euro was introduced at a fixed parity of €1 = 13.7603 schilling to replace it. The schilling was divided into 100 groschen.
The schilling was established by the Schilling Act (Schillingrechnungsgesetz) of December 20, 1924 at a rate of 1 schilling to 10,000 Austro-Hungarian Kronen & issued on March 1, 1925. The schilling was abolished in the wake of the Anschluss (1938), when it was exchanged at a rate of 2 German Reichsmark to 3 schilling.
The schilling was reintroduced after World War II on November 30, 1945 by the Allied Military, who issued paper money (dated 1944) in denominations of 50 groschen up to 100 schilling. The exchange rate to the Reichsmark was 1:1, limited to 150 schilling per person. The Nationalbank also began issuing schilling notes in 1945 & the 1st coins were issued in 1946.
With a second "schilling" law in November 1947, new banknotes were...
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