Australia's high exchange rate supports consumers as petrol, imported goods and overseas travel turn cheaper, Reserve Bank of Australia Governor Glenn Stevens said Wednesday.
Addressing a forum in Brisbane, he said, "We shouldn't wish too quickly for a low exchange rate." "As consumers, the exchange rate is one of the devices that is imparting to us the higher wealth that the mining boom brings."
Further, he urged businesses to improve their productivity because it is the way out in terms of coping with a high exchange rate.
by RTT Staff Writer
For comments and feedback: email@example.com