Revised currency baskets 2010
The weights of currencies in the baskets used to calculate the broad and narrow merchandise- and trade-weighted indices have been updated. The weights are determined based on Iceland's external trade in 2009. The last review was made in January 2010. The revised baskets will be used as of 1 January 2011 and will remain in use until the next annual review.
The weights are determined based on the composition of
Narrow merchandise (A) and narrow trade basket (C):
- No change.
Broad merchandise (B) and broad trade basket (D):
- The Surinamese dollar, the Jamaican dollar and the Brazilian real are added to the baskets
- The Czech koruna, Estonian kroon and the Latvian lats are excluded from the baskets.
The most significant other change in the merchandise trade baskets is that the weight of the US dollar, the Japanese yen, and the Australian dollar diminishes, whereas the weight of the Norwegian krone and the euro increases somewhat.
There are some changes in the weight of the currencies in the trade baskets as well, as information on services trade has improved significantly. Previously, the primary services trade information used to measure the trade baskets came from the tourism sector; therefore, services trade made limited impact on the trade basket. However, more extensive information on service trade is now available, and the share of services trade in the trade baskets is higher as a result. The most significant change in the trade baskets is that the weight of the euro diminishes and the weight of the British pound increases.
Currency baskets 2010 (Excel file)
Currency baskets 2010 (Pdf file)