Weights for new Trade-Weighted Index

Release date
15 December 2014

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, angus.barclay@rbnz.govt.nz