To be sure, the Australian real exchange rate appreciated rather less strongly than the New Zealand dollar did in the mid-nineties but, as Figure 6 shows, over the whole period since 1980 it is not immediately obvious that the Australian real exchange rate has behaved in ways which have been kinder to exporters than the New Zealand dollar has.
The Reserve Bank’s balance sheets are analyzed by a wide array of stakeholders to study the underlying monetary and macro economic trends so as to make informed decisions. We have an obligation, therefore, to maintain the highest standards of clarity, transparency and disclosure, and we try our best to meet this obligation. RBI and the accounting profession 8.