Ordinarily, a large surplus puts upward pressure on the country’s currency – making its exports less competitive and boosting demand for imported goods and services. But a country’s authorities can prevent appreciation for a prolonged period of time by buying up foreign currency.
通常，巨额盈余会给一国货币带来升值压力——使其出口竞争力下降、提高对进口商品和服务的需求。但一国当局可以通过购买外汇在相当长的一段时间里阻止本币升值。