Weights for the TWI
The 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 2006/07, will apply from 2 October 2007.
| Trade Weight | ||
|---|---|---|
| Currency | Current | Previous |
| Japanese yen | 15.4860 | 16.3340 |
| Chinese renminbi | 15.4486 | 13.9352 |
| European euro | 12.1703 | 12.2018 |
| United States dollar | 10.7432 | 10.9806 |
| South Korean won | 5.9057 | 6.1429 |
| New Zealand dollar | 4.6553 | 4.7979 |
| Singapore dollar | 4.5637 | 4.9791 |
| United Kingdom pound sterling | 4.1943 | 4.6430 |
| Thai baht | 3.5465 | 3.2464 |
| Indian rupee | 3.5320 | 2.9113 |
| New Taiwan dollar | 3.2771 | 3.2791 |
| Malaysian ringgit | 2.9989 | 3.1347 |
| Indonesian rupiah | 2.7489 | 2.8814 |
| Vietnamese dong | 1.9032 | 1.7125 |
| Hong Kong dollar | 1.3785 | 1.5360 |
| United Arab Emirates dirham | 1.2801 | 0.7788 |
| Canadian dollar | 1.1892 | 1.2458 |
| Papua New Guinea kina | 1.1564 | 1.2532 |
| South African rand | 1.1496 | 1.2920 |
| Swiss franc | 0.9401 | 0.6192 |
| Saudi Arabian riyal | 0.9166 | 1.1446 |
| Swedish krona | 0.8158 | 0.9505 |
The weight of the Japanese yen remains the highest in the index, despite declining by ¾ percentage point from last year. The Chinese renminbi weight increased by 1½ percentage points from last year and is ranked second, having risen by 9 percentage points since 2000. The US dollar weight declined by ¼ percentage point from last year while the European euro remained broadly unchanged.
The combined weight of the Asian-Pacific currencies excluding Japan increased by 1¼ percentage points from last year to 51 per cent, reflecting continued growth in Australia's merchandise trade with the region. The combined weights of European currencies and North American currencies both fell by ¼ percentage point.