Weights for the TWI

New weights for the trade-weighted index (TWI) of the Australian dollar will apply from 1 December 2015. The weights are based on the composition of Australia's merchandise goods and services trade for the 2014/15 financial year. The composition of the index has changed slightly, with the Philippine peso no longer included. The regions associated with the 19 currencies in the updated index accounted for around 90 per cent of Australia's trade in 2014/15. Changes in the individual currency weights were generally well within +/− 1 percentage point. Of note, the weight of the US dollar increased by 1 percentage point and the weight of the Chinese renminbi declined by 1 percentage point. Overall, the currency rankings were fairly stable in this update, with the rankings of the top eight currencies remaining unchanged from last year. See ‘TWI – Method of Calculation’ for a description of the methodology used to construct the TWI.