ATS (Austrian Schilling)

DEFINITION of 'ATS (Austrian Schilling)'

The currency abbreviation, or currency symbol, for the Austrian schilling (ATS), the currency for Austria from 1924 to 1938 and between 1945 to 1999. The schilling is made up of 100 groschen and is often presented with the symbol S or öS. The Austrian schilling still circulated in Austria from 1999 until 2002, when it was replaced by the euro at a conversion rate of 13.7603 schillings for every euro.

BREAKING DOWN 'ATS (Austrian Schilling)'

The first schilling was established in December of 1924 by the Schilling Act (Schillingrechnungsgesetz) and was equivalent to 10,000 Austro-Hungarian kronen.

A second schilling was created in November of 1947 according to the "Schilling Law", with a conversion rate of 3 old schillings for 1 new schilling. Later, in 1950, the currency was pegged to the U.S. dollar at $1 to 26 schillings. The 1970s saw the collapse of the Bretton Woods system and the schilling was tied to a basket of trade-weighted European currencies (1971) and then to the Deutsche mark (1976).

RELATED TERMS
  1. Austrian School

    An economic school of thought that originated in Vienna during ...
  2. Hard-Coded Stock

    This is a term that refers to a company's stock symbol or ticker ...
  3. Currency Symbol

    A graphical symbol used as a substitute for the actual name of ...
  4. Conversion Rate

    The ratio at which one currency can be exchanged for another. ...
  5. JPY

    The currency abbreviation or the currency symbol for the Japanese ...
  6. JPY (Japanese Yen)

    The currency abbreviation or the currency symbol for the Japanese ...
Related Articles
  1. Economics

    The Austrian School Of Economics

    Investopedia explains: If you think economists are only concerned with numbers, check out the Austrian School, who are more like economic philosophers.
  2. Trading Strategies

    Simulator How-To Guide: Ticker Symbol Look Up

    As you noticed while you were buying shares of Wal-Mart, all brokerages (simulated or not) require you to input the company's stock symbol to place any trade. In fact, all stock exchanges ...
  3. Term

    Keeping Securities Clear With Ticker Symbols

    A ticker symbol is a group of characters that represent a specific, publicly traded security that’s listed on an exchange.
  4. Forex Education

    4 Of The Most Popular Traded Currencies

    Every day, trillions of dollars trade in the forex market. Here are a few of the most popular currencies, and some characteristics for each.
  5. Fundamental Analysis

    Taking Shots At CAPM

    Find out why many investors think the capital asset pricing model is full of holes.
  6. Forex Education

    How Do You Make Money Trading Money?

    Making money in the foreign exchange market is a speculative process. You are betting that the value of one currency will increase relative to another.
  7. Forex Education

    Forex Tutorial: Forex History and Market Participants

    Given the global nature of the forex exchange market, it is important to first examine and learn some of the important historical events relating to currencies and currency exchange before entering ...
  8. Economics

    Why the Euro Failed to Become the World's Reserve Currency

    Examine the current state of the U.S. dollar as the world's reserve currency; learn the major reasons why the euro has failed to replace it in that capacity.
  9. Forex Education

    Forex Tutorial: Reading a Forex Quote and Understanding the Jargon

    One of the biggest sources of confusion for those new to the currency market is the standard for quoting currencies. In this section, we'll go over currency quotations and how they work in ...
  10. Forex Education

    Forex Currencies: Conclusion

    By Brian Perry Conclusion The currency markets are the largest and most actively traded financial markets in the world with daily trading volume of more than $3 trillion (Triennial Central ...
RELATED FAQS
  1. What is the Austrian Theory of the Business Cycle?

    Read about the Austrian business cycle theory, which claims that government interventions in the credit market lead to asset ... Read Answer >>
  2. When and why did the euro make its debut as a currency?

    On January 1, 1999, the European Union introduced its new currency, the euro. Originally, the euro was an overarching currency ... Read Answer >>
  3. How do different economic schools of thought treat the factors of production?

    Read about how different schools of economic thought treat the factors of production, both in terms of ownership and macroeconomic ... Read Answer >>
  4. Why is the U.S. dollar shown on the top of some currency pairs and on the bottom ...

    All currencies are traded in pairs. The first currency in the pair is called the base currency while the second is called ... Read Answer >>
  5. How do I find out my bank's bid-ask spread for currency conversions?

    Learn how to find your bank's bid-ask spreads for currency conversions, and understand why you should consider alternative ... Read Answer >>
  6. How do you make money trading money?

    Investors can trade almost any currency in the world. Investors, as individuals, countries, and corporations, may trade in ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center