An appropriate balance of payments is conducive to maintaining the stability of the Australian dollar exchange rate and promoting economic development. Although the Australian dollar is an international currency, there is an international trade deficit, which cannot be compensated by printing more Australian dollars. Therefore, when the balance of payments deficit and foreign exchange reserves are insufficient, Australia will lack sufficient foreign exchange to purchase imported products and repay foreign debts, which will affect Australia's reputation and economic development. Therefore, Australia’s current account surplus in June 2020 will benefit the stability of the Australian foreign exchange market and the Australian dollar exchange rate, enhance Australia’s international payment capabilities, and promote Australia’s economic development. Australia’s capital account has gradually reached a balance of international payments, which is conducive to expanding domestic demand and appropriately reducing Australia’s national economy’s external dependence.
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