The Austrian National Bank (OeNB) commemorates the 100th anniversary of the Schilling's introduction on March 1, 1925, a pivotal moment in restoring confidence after hyperinflation. Coinciding with this milestone, the OeNB also celebrates the centennial of its headquarters' opening on March 22, 1925, at Otto-Wagner-Platz in Vienna.
Established in 1923, the OeNB inherited the task of curbing hyperinflation and stabilizing the currency. Following a loan from the League of Nations, conditional on economic reforms, Austria successfully implemented the Schilling Act on December 20, 1924. This act set the conversion rate at 10,000 Kronen to 1 Schilling.
Eduard Schock, OeNB Director, emphasized the currency's role in reinstating public trust in money after the hyperinflation era. The new headquarters, a symbol of stability, reflected the era's pursuit of objectivity and the OeNB's streamlined operations in the young republic.
To conclude the anniversary year, the OeNB will host two special exhibitions, including a long-term exhibition at the Geldmuseum and another at the Kassensaal, highlighting the OeNB building's opening, the Schilling's introduction, and the "New Objectivity" art movement.