The Reserve Bank is changing the way it calculates the trade-weighted index (TWI), as previously announced in October.
As of Wednesday 17 December 2014:
- the number of currencies included in the TWI will be increased from five to 17;
- the weights for each currency will be based on the two-way trade in goods and services between the foreign country and New Zealand;
- the TWI-17 will have a base of 31 October 2014 = 76.4400, which was the level of the existing TWI-5 on that day; and
The new TWI-17 has been backdated to January 1984.
TWI-17 weights for the next 12 months are:
|
Currency |
Symbol |
TWI-17 Weights |
|
Australian dollar |
AUD |
0.2198 |
|
Chinese yuan |
CNY |
0.2009 |
|
United States dollar |
USD |
0.1234 |
|
Euro zone euro |
EUR |
0.1087 |
|
Japanese yen |
JPY |
0.0631 |
|
Singapore dollar |
SGD |
0.0434 |
|
United Kingdom pound |
GBP |
0.0434 |
|
South Korean won |
KRW |
0.0397 |
|
Malaysian ringgit |
MYR |
0.0328 |
|
Thai baht |
THB |
0.0258 |
|
Indonesian rupiah |
IDR |
0.0180 |
|
Indian rupee |
INR |
0.0149 |
|
Taiwanese dollar |
TWD |
0.0174 |
|
Canadian dollar |
CAD |
0.0147 |
|
Hong Kong dollar |
HKD |
0.0133 |
|
Vietnamese dong |
VND |
0.0104 |
|
Philippines peso |
PHP |
0.0103 |
|
Scaling factor |
|
76.4400 |
Technical information about the TWI is available here.
An issue of the Reserve Bank Bulletin, scheduled for publication on Wednesday 17 December, will also include an article about the methodology used to calculate the TWI-17.
The Reserve Bank will continue to update the TWI-5 for the coming year. The TWI-5 and the weights and scaling factor used to calculate it are available here.
Media Contact:
Angus Barclay, External Communications
Adviser
Phone 04 471 3698, mobile 027 337 1102, [email protected]