New currency Basket weightings now announced
The WDX Institute has notified the new compositions and weights for the WOCU, the World Currency Unit.
Switzerland replaces Poland in the basket of the world’s twenty largest economies.
Also of note is China’s increase in weighting from 8.84% of the basket to 10.44%.
The increase in Chinese GDP was larger than the declines of German and US GDP added together.
The BIC component of the BRIC countries all continued their growth, with Russia the exception, falling from 3.42% to 2.61% of the basket.