The annual re-weighting of the Trade-Weighted Index (TWI) takes effect on Wednesday 13 December 2023.
The TWI is a weighted average of the New Zealand dollar against the currencies of New Zealand’s major trading partners. There are 17 currencies included in the TWI basket. The weights are calculated using a fully bilateral trade-weighted methodology. The weight for each currency is based on each country’s direct bilateral trade in goods and services with New Zealand, for the year ended June.
The new weights will be applied from tomorrow, 13 December. The historical calculations of the TWI are not backdated with the new weights. The current TWI weights and those that will apply for the next 12 months are:
Currency | Symbol | Old weight | New weight |
Chinese yuan | CNY | 0.2564 | 0.2261 |
Australian dollar | AUD | 0.1655 | 0.1766 |
United States dollar | USD | 0.1378 | 0.1450 |
Euro zone euro | EUR | 0.0983 | 0.0949 |
Singapore dollar | SGD | 0.0537 | 0.0649 |
Japanese yen | JPY | 0.0610 | 0.0563 |
South Korean won | KRW | 0.0434 | 0.0500 |
United Kingdom pound | GBP | 0.0307 | 0.0340 |
Malaysian ringgit | MYR | 0.0230 | 0.0272 |
Thai baht | THB | 0.0294 | 0.0269 |
Indonesian rupiah | IDR | 0.0203 | 0.0201 |
Taiwanese dollar | TWD | 0.0202 | 0.0176 |
Vietnamese dong | VND | 0.0159 | 0.0148 |
Indian rupee | INR | 0.0132 | 0.0146 |
Canadian dollar | CAD | 0.0130 | 0.0138 |
Hong Kong dollar | HKD | 0.0112 | 0.0094 |
Philippines peso | PHP | 0.0071 | 0.0078 |
Scaling factor | 77.2121 | 77.1283 |
Technical information about the TWI is available on the TWI weights table.
