Weak dollar improves our balance of payment or not?

Answer 1

Other things constant, it increases exports and decreases imports. On the opposite side, it makes buying dollar denominated assets less attractive. So, if it raises external funding costs, it could be negative in the sense of flows of funds but not in the sense of trade deficit.

Answer 2

Generally, declining currency improves the balance of payment, because domestically produced goods become more competitive against foreign goods, which helps both exports and competition with imports.