Information about currency: Euro, Austria

The euro (symbol: €; code: EUR) is the official currency of 19 of the 27 member states of the European Union. This group of states is known as the Eurozone or Euro area. The name Euro was officially adopted on 16 December 1995. The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU). Physical euro coins and banknotes entered into circulation on 1 January 2002, making it the day-to-day operating currency of its original members.

All circulating coins have a common side showing the denomination or value, and a map in the background. Due to the linguistic plurality of Europe, the Latin alphabet version of Euro is used (as opposed to the less common Greek or Cyrillic) and Arabic numerals (other text is used on national sides in national languages, but other text on the common side is avoided). The coins also have a national side showing an image specifically chosen by the country that issued the coin. Euro coins from any member state may be freely used in any nation that has adopted the euro.

The coins are issued in €2, €1, 50c, 20c, 10c, 5c, 2c, and 1c denominations. Commemorative coins with €2 face value have been issued with changes to the design of the national side of the coin. These coins are legal tender throughout the Eurozone. Collector coins with various other denominations have been issued as well, but these are not intended for general circulation, and they are legal tender only in the member state that issued them.

Austria joined the European Union in 1995 and was one of the first countries to adopt the euro on 1 January 1999. The euro banknotes and coins were introduced in Austria on 1 January 2002, after a transitional period of three years when the euro was the official currency but only existed as "book money". The dual circulation period - when both the schilling and the euro had legal tender status - ended on 28 February 2002.