The AWEX EMI rose by 10 cents (1.2pc), ending the week at 868c/kg.

This reflected rises of 6c (0.7pc) in the North and 14c (1.7pc) in the South indicators, with their corresponding regional indicators finishing the week at 909c and 834c clean, respectively.

The Western Indicator rose by 2c (0.2pc), finishing the week at 820c.

In a three-day sale in Melbourne and a two-day sale in Sydney, the AWEX EMI rose by 5c on Tuesday, by 4c on Wednesday and by 1c yesterday.

The Western Indicator rose by 7c on Wednesday and fell by 5c on Thursday in a two-day sale in Fremantle.

A total 52,414 bales were on offer compared with 45,189 bales last week, of which 11.2pc was passed in, comprised of 8.8pc in Sydney, 11pc in Melbourne and 14.8pc in Fremantle.

Pass-in rates for Merino fleece and skirtings were 12.6pc and 12.1pc, respectively.

About 2200 bales (40pc) were withdrawn prior to sale and re-offered bales made up 14.2pc of this week's offering.

The New Zealand Merino Company also offered 3662 bales in Melbourne on Wednesday of which 59.4pc was passed in.

Exchange rates experienced record daily changes and within-day fluctuations of greater than 5c as the global financial turmoil continued this week and the Reserve Bank lowered the cash rate by 1pc on Tuesday.