Weights for the TWI
The new weights for the TWI have been compiled and are reported in the table below. These weights, which reflect the composition of Australia's two-way merchandise trade in 2005/06, will apply from 3 October 2006.
| Trade Weight | ||
|---|---|---|
| Currency | Current | Previous |
| Japanese yen | 16.3340 | 16.3596 |
| Chinese renminbi | 13.9352 | 12.7491 |
| European euro | 12.2018 | 13.0819 |
| United States dollar | 10.9806 | 11.9388 |
| South Korean won | 6.1429 | 5.7178 |
| Singapore dollar | 4.9791 | 4.1299 |
| New Zealand dollar | 4.7979 | 5.6381 |
| United Kingdom pound sterling | 4.6430 | 4.1785 |
| New Taiwan dollar | 3.2791 | 3.3041 |
| Thai baht | 3.2464 | 3.1509 |
| Malaysian ringgit | 3.1347 | 3.3057 |
| Indian rupee | 2.9113 | 2.8263 |
| Indonesian rupiah | 2.8814 | 2.6159 |
| Vietnamese dong | 1.7125 | 1.4794 |
| Hong Kong dollar | 1.5360 | 1.5237 |
| South African rand | 1.2920 | 1.1587 |
| Papua New Guinea kina | 1.2532 | 1.1396 |
| Canadian dollar | 1.2458 | 1.4786 |
| Saudi Arabian riyal | 1.1446 | 1.2539 |
| Swedish krona | 0.9505 | 0.8737 |
| United Arab Emirates dirham | 0.7788 | 0.8146 |
| Swiss franc | 0.6192 | 0.6723 |
| Philippine peso | -- | 0.6089 |
The combined weight of the Asian-Pacific currencies increased by 1½ percentage points from last year to 66¼ per cent, as Australia's merchandise trade with the region continues to expand. The combined weight of European currencies fell by ½ percentage point to 18½ per cent, while the combined weight of North American currencies fell by 1¼ percentage points to 12¼ per cent.
The Japanese yen continues to have the highest weight in the index. The Chinese renminbi weight increased by 1¼ percentage points, its fourth consecutive increase of more than 1 percentage point, and is now ranked second. The European euro and US dollar weights each declined by 1 percentage point.