RBA concerned about rising $A

The economic impact of declining mining investment has been offset by strong exports, but a rising Australian dollar could be a problem, the Reserve Bank says.

The Reserve Bank is concerned the Australian dollar could complicate the transition of the economy. (AAP)

The Reserve Bank is concerned a rise of the Australian dollar could complicate the transition of the economy away from mining.

The RBA, which held the cash rate steady at a record low of 1.75 per cent on June 7, said the impact of the decline in mining investment had been largely offset recently by the strength of net resource exports supported by a lower Aussie dollar.

"Members noted that an appreciation of the exchange rate could complicate the adjustment of the economy to the lower terms of trade," the RBA's June board meeting minutes, released on Tuesday, said.