Weights for the TWI

The Australian dollar trade-weighted index (TWI) is the price of the Australian dollar in terms of a group (or ‘basket’) of foreign currencies based on their share of trade with Australia. While bilateral exchange rates are the most frequently quoted exchange rates, the TWI provides a broader measure of whether the Australian dollar is appreciating or depreciating against the currencies of its trading partners.

New weights for the Australian dollar TWI will apply from 21 December 2023. The weights are based on the composition of Australia’s merchandise goods and services trade for the 2022/23 financial year. The updated TWI includes a group of 17 foreign currencies. This is the same number of foreign currencies as in the previous TWI; however, the Canadian dollar replaced the Swiss franc. The Chinese renminbi continues to have the largest weight in the TWI. Changes in individual currency weights were within +/– 1¼ percentage points.

For further details regarding the methodology used for constructing the index, please see ‘TWI – Method of Calculation’.

Weights in the Trade-weighted Index
Per cent
Currency From 21 December 2023 21 December 2022 – 20 December 2023
Chinese renminbi 29.4896 30.7089
Japanese yen 13.2028 12.5101
European euro 8.8303 9.2279
United States dollar 8.6902 8.2330
South Korean won 7.1201 7.3347
Singapore dollar 4.7179 5.0619
Indian rupee 4.1827 5.0528
New Taiwan dollar 3.8675 3.6516
Malaysian ringgit 3.3017 2.9172
New Zealand dollar 3.1859 2.7472
Thai baht 2.8996 2.6814
United Kingdom pound sterling 2.6722 2.3948
Vietnamese dong 2.3782 2.3782
Indonesian rupiah 2.3750 1.9290
Hong Kong dollar 1.2599 1.5353
Canadian dollar 0.9227
Philippine peso 0.9037 0.7671
Swiss franc 0.8689

Sources: ABS; RBA