The currency in Austria is the Euro. Austria is a member of the European Union and has been using the Euro since 2002. Prior to that, the Austrian Schilling was used. Banknotes come in denominations of 5, 10, 20, 50, 100, 200, and 500 Euros. There are also 1 and 2 Euro coins. The Euro is also the currency used in many other European countries, making it easy to travel around Europe without having to constantly change currencies.