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Wocu Value Calculation

The currencies included in the Wocu value are those of the countries whose Gross Domestic Product (GDP) is within the top 20 worldwide by value.

To provide a consistent calculation algorithm, the only GDP figures used are those issued by the International Monetary Fund (IMF) bi-annually, as part of its World Economic Outlook (WEO) forecast.

These figures are re-weighted as the GDP values of each country changes. This means that the member countries and their currencies can change each year, either by the weighting being adjusted or by the currency being promoted into or demoted out of the basket.

Countries who have replaced their currencies with the Euro are treated as individuals within this weighting exercise, so some countries are included, such as Germany and France, whilst others are excluded, such as Ireland and Greece, purely on the basis of whether or not the country qualifies by virtue of its GDP.

Re-weightings only occur on pre-stated dates in order to ensure that the foreign exchange market is forewarned that the event is taking place and to ensure transparency of the re-weighting, this exercise is performed by:

• an independent organisation - The WDX Institute
• on pre-defined dates - third Thursday of May and November each year
• at a pre-defined time - 16:00 UTC (Universal Time, Co-Ordinated)

The value of the Wocu on its creation date - 1st January, 2000 - was initially defined as being equivalent to 10 litres of crude oil giving it a value in US$ terms of 1.573082. The crude oil price used for this calculation was:

The daily value of the Wocu has been calculated from its creation date – 1st January, 2000 - to the date of its public introduction - 10th September, 2009. In these calculations the weightings of the basket were only adjusted on the third Thursday of May each year.

Since the 10th September, 2009 the value of the Wocu has been calculated in real-time 24 hours per day 7 days per week and the weighting of the basket is now being adjusted on the third Thursday of May and November each year.

The following table shows the value of 1 Wocu stated in other currencies on its creation date of 1st January, 2000 and 10 years later on 1st January, 2010: