Local Currency

Currency in Austria

Austria is a member of the European Union and the Eurozone,the currency used is the euro (symbol: €), and it is not common for other currencies, like the UK pound or the US dollar to be accepted when making purchases.

The euro is available as bills (500€, 200€, 100€, 50€, 20€, 10€, 5€), and coins (2€, 1€, 50 cents, 20 cents, 10 cents, 5 cents 2 cents and 1 cent). One euro = 100 cents

Exchange rates are unpredictable and can fluctuate over time. Over the 2008 – 2009 period for example, one US$ could buy between 0.62€ and 0.80€. As exchange rate can often be a determining factor with international travel, it is advisable to check the exchange rates frequently.

ATMs, or “Bankomat” are widespread throughout Austria and can even be found in smaller villages. They can be recognised by a sign showing a green stripe above a blue stripe. Most ATMs accept overseas cards and you will not usually be charged a transaction fee, other than charged by your own bank. Shops and restaurants will often have these facilities, allowing you to pay for purchases with an ATM card.

The standard rate of VAT (Value Added Tax) in Austria is 20%, but a reduced rate of 10% applies to tourism services, food and agriculture.