Weights for the TWI

Release date: 29 November 2013

New weights for the trade-weighted index (TWI) of the Australian dollar will apply from 2 December 2013. The weights are based on the country composition of Australia's merchandise goods and services trade for the 2012/13 financial year. The composition of the index has changed slightly, with the Philippine peso replacing the Swedish krona. The regions associated with the 21 currencies in the updated index accounted for around 90 per cent of Australia's trade in 2012/13. Changes in individual currency weights were generally within ½ percentage point, with the exception of the weight on the Chinese renminbi – which increased by around 1¼ percentage points – and the weight on the Japanese yen – which declined by around ¾ percentage point. Overall, the currency rankings were fairly stable in this update, with the rankings of the top eight currencies remaining unchanged from last year. See ‘TWI – Method of Calculation’ for a description of the methodology used for constructing the TWI.

Weights in the Trade-weighted Index
Per cent
  Weight
Currency From 2 December 2013
3 December 2012 –
29 November 2013
Chinese renminbi 24.8504 23.5501
Japanese yen 13.1351 13.9465
United States dollar 9.7833 9.8560
European euro 9.4263 9.5477
South Korean won 5.7835 6.1243
Singapore dollar 5.4943 5.2925
United Kingdom pound sterling 3.9868 4.3878
New Zealand dollar 3.9687 4.0058
Thai baht 3.6773 3.2634
Malaysian ringgit 3.2381 3.1701
Indian rupee 3.1592 3.3812
Indonesian rupiah 2.6927 2.7546
New Taiwan dollar 2.3424 2.4516
Hong Kong dollar 1.4607 1.4068
Vietnamese dong 1.3467 1.2075
Papua New Guinea kina 1.2900 1.3238
United Arab Emirates dirham 1.0608 1.0960
Swiss franc 1.0403 1.0461
Canadian dollar 1.0374 0.9707
Philippine peso 0.6439 -
South African rand 0.5821 0.6176
Swedish krona - 0.5999

Sources: ABS; RBA