Since the mid-1970s the Austrian schilling
has been tied to the Deutschmark.
At the same time, the traditionally negative differential at the long-term end turned positive in mid-1991, as the German long-term interest rate began to decline, which, in combination with the increased confidence in the Austrian schilling
, resulted in the above-noted boom in sales of schilling-denominated securities to non-residents.
And 500 Austrian schillings
(pounds 25), a gift from an aunt, remained on her desk.
According to local travel agents, the seats that usually fetch 5,000 Austrian schillings
for a Vienna Philharmonic concert have ballooned to 38,000 schillings, or roughly 304,000 yen, for the New Year's Day performance.
The national currency of the 12 countries which have joined the Euro and become worthless on January 1 are Austrian schillings
, Belgian francs, Dutch guilders, Finnish marks, French francs, German deutschmarks, Greek drachma, Irish punt, Italian lira, Luxembourg francs, Portuguese escudos and Spanish pesetas.