After the Napoleoni wars, which led to a quasi-national bankruptcy, in the year 1816 by the central bank the paper money was drawn in. With a loss of approximately 90% guldens were spent. The gulden, that parallel to a provisional currency, which Viennese so mentioned currency was introduced, was valid until 1892, while the Viennese currency was only up to reconciliation with Hungary in the year 1867 in circulation.

In the year 1892 the gulden was replaced by the crown to 100 Heller. The exchange rate was with two crowns for a gulden.

The first currency reform of the first republic replaced the old currency crown from the Austrian Hungarian monarchy. The crown, which lost by the inflation after the First World War very strongly at value, became after the currency reform law from 20 December 1924 with effect of the 1. 1925 by the Schilling to 100 groschens replaces. Originally 100 were planned as After the exchange rate a Schilling corresponded to 10,000 crowns. The Schilling held by an appropriate monetary policy stably was called also alpine dollar.

After the connection in the year 1938 the Schilling with a course unfavorable for the Austrians was exchanged to the realm Mark (exchange rate 1.5 Schilling for 1 realm Mark).

After end of war on 30 November 1945 again the Schilling was introduced and exchanged with 1:1 to the realm Mark. However per head only 150 realm Marks were exchanged. The remainder came on a savings account. On 10 December 1947 however the Schilling was devalued on a third, while by savings balances some of the state was taxed away, in order to make the reconstruction possible. Only 150 Schilling was exchanged per person one to one. This reform was the condition, in order to receive means from the Mars resounding plan. Only the Soviet Union received a rate of exchange for its agreement in the allied commission from 1:1,75. Since Austria in the situation at that time had no means to the reprint of notes, the same notes with the print second edition were spent. At the same time Schilling coins were spent instead of the past realm Mark coins.

In the case of the conversion of the Schilling currency on the euro 1999 it concerned only a currency reform.

See also

• Austrian economy

Articles in category "Currency reforms in Austria"

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