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LOCAL CURRENCY IN AUSTRIA

Want to know the local currency in Austria? The currency used in Austria is called Euro.

The Austrian Euro is issued and managed by the European Central Bank. To find out the current currency exchange rates for Euro to other major currencies of the world, click on foreign currency rates.

Austrian Currency Information
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The currency used in Austria is called as the Euro. This currency is denoted with the currency sign € and the ISO 4217 Code for the Austrian Euro is EUR. The Euro, is the official currency of the Austria . It is divided into 100 smaller units called cent.

The constitution of Austria provides that the Austria government shall have the power to print the Austrian Euro and cent coins to be used as a legal tender in Austria. The Austrian Euro bank notes and Cent coins are both designated as "legal tender" in payment of debts.

The Austrian Euro bill uses the decimal system, consisting of 100 equal units.

The symbol €, usually written before the numerical amount, is used for the Austrian Euro.

Currently printed bank notes denominations are €5, €10, €20, €50, €100, €200, €500 and the coins are minted in the denominations of 1c, 2c, 5c, 10c, 20c, 50c, €1, €2 €5 , €10, €20, €100, €1,000.

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How Does Balance of Trade and Investment Affect the Value of the Austrian Euro
Financial analysts regularly cite the balance of trade and investment in Austria as the most important influence on the value of the Euro. The difference between what the Austria exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Euro exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Euro exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Austrian Euro.
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