Weights for the TWI
New weights for the trade-weighted index (TWI) of the Australian dollar have been compiled and are reported in the table below. These weights, which reflect the composition of Australia's two-way merchandise trade in 2008/09, will apply from 1 October 2009.
| Trade weight | ||
|---|---|---|
| Currency | 2009/10 | 2008/09 |
| Chinese renminbi | 18.5621 | 16.3672 |
| Japanese yen | 17.1230 | 15.4040 |
| European euro | 10.4411 | 11.6517 |
| United States dollar | 8.9794 | 9.8797 |
| South Korean won | 6.2613 | 5.7786 |
| United Kingdom pound sterling | 4.9916 | 4.7535 |
| Singapore dollar | 4.6111 | 5.2102 |
| Indian rupee | 4.2608 | 3.0844 |
| Thai baht | 3.8159 | 3.8019 |
| New Zealand dollar | 3.7914 | 4.6565 |
| New Taiwan dollar | 2.9741 | 2.9903 |
| Malaysian ringgit | 2.9284 | 3.2705 |
| Indonesian rupiah | 2.2685 | 2.4053 |
| Vietnamese dong | 1.3672 | 1.9640 |
| United Arab Emirates dirham | 1.3446 | 1.5930 |
| Papua New Guinea kina | 1.1229 | 1.2341 |
| Hong Kong dollar | 1.1207 | 1.1934 |
| Canadian dollar | 0.9619 | 1.0786 |
| South African rand | 0.8056 | 1.1040 |
| Saudi Arabian riyal | 0.7743 | 0.8916 |
| Swiss franc | 0.7631 | 0.8685 |
| Swedish krona | 0.7310 | 0.8190 |
The number and composition of the 22 currencies included in the index are unchanged from the previous year. These currencies account for 93.2 per cent of Australia's two-way merchandise trade.
The weight of the Chinese renminbi remains the highest in the index, and has increased by around 2 percentage points from last year. The Japanese yen is ranked second and its weight also increased by almost 2 percentage points from last year. The weights on both the euro and US dollar fell by 1 percentage point from last year.
The combined weight of the Asian-Pacific currencies, excluding Japan, increased to 53.1 per cent while the combined weights of the North American and European currencies fell to 9.9 per cent and 16.9 per cent respectively.