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Virtual Currency

SHANGHAI, CHINA - DECEMBER 9, 2025 - Metal model coins of some international mainstream virtual currencies captured in Shanghai, China on December 9, 2025.

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Virtual Currency

SHANGHAI, CHINA - DECEMBER 9, 2025 - Metal model coins of some international mainstream virtual currencies captured in Shanghai, China on December 9, 2025.

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Virtual Currency

SHANGHAI, CHINA - DECEMBER 9, 2025 - Metal model coins of some international mainstream virtual currencies captured in Shanghai, China on December 9, 2025.

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Virtual Currency

SHANGHAI, CHINA - DECEMBER 9, 2025 - Metal model coins of some international mainstream virtual currencies captured in Shanghai, China on December 9, 2025.

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Virtual Currency

SHANGHAI, CHINA - DECEMBER 9, 2025 - Metal model coins of some international mainstream virtual currencies captured in Shanghai, China on December 9, 2025.

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Virtual Currency

SHANGHAI, CHINA - DECEMBER 9, 2025 - Metal model coins of some international mainstream virtual currencies captured in Shanghai, China on December 9, 2025.

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Virtual Currency

SHANGHAI, CHINA - DECEMBER 9, 2025 - Metal model coins of some international mainstream virtual currencies captured in Shanghai, China on December 9, 2025.

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Virtual Currency

SHANGHAI, CHINA - DECEMBER 9, 2025 - Metal model coins of some international mainstream virtual currencies captured in Shanghai, China on December 9, 2025.

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RMB Ranks Fourth Among Global Payment Currencies

SHANGHAI, CHINA - AUGUST 22, 2024 - A housewife takes stock of spare RMB cash at her home in Shanghai, China, August 22, 2024.

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RMB Ranks Fourth Among Global Payment Currencies

SHANGHAI, CHINA - AUGUST 22, 2024 - A housewife takes stock of spare RMB cash at her home in Shanghai, China, August 22, 2024.

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RMB Ranks Fourth Among Global Payment Currencies

SHANGHAI, CHINA - AUGUST 22, 2024 - A housewife takes stock of spare RMB cash at her home in Shanghai, China, August 22, 2024.

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RMB Ranks Fourth Among Global Payment Currencies

SHANGHAI, CHINA - AUGUST 22, 2024 - A housewife takes stock of spare RMB cash at her home in Shanghai, China, August 22, 2024.

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Police Arrests Five With Fake Banknotes - Dhaka

Detective Branch of police on Saturday arrested five people, including the mastermind, Liakat Hossain Zakir, and four women with fake banknotes worth Tk 1.5 crore at a fake currency factory in Kadamtali area of capital Dhaka, Bangladesh, June 8, 2024. A DB team of the Lalbagh Division raided the fake currency factory at a house from about 9:00am to 12 noon in the area. DB officials said that they had recovered fake banknotes worth Tk 1.5 crore and materials for making Tk 3 crore fake currencies from two houses, including special papers and cloths, special colours, four laptops, four printers, white papers, heaters, scales and paper-cutters. They said that the ring was making fake currency targeting Eid-ul-Azha, one of the biggest religious festivals for Muslims. Zakir has been doing retail and wholesale business of fake currency for the past 25 years and he is an expert in making fake taka and rupees, according to the DB. Photo by Suvra Kanti Das/ABACAPRESS.COM

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Police Arrests Five With Fake Banknotes - Dhaka

Detective Branch of police on Saturday arrested five people, including the mastermind, Liakat Hossain Zakir, and four women with fake banknotes worth Tk 1.5 crore at a fake currency factory in Kadamtali area of capital Dhaka, Bangladesh, June 8, 2024. A DB team of the Lalbagh Division raided the fake currency factory at a house from about 9:00am to 12 noon in the area. DB officials said that they had recovered fake banknotes worth Tk 1.5 crore and materials for making Tk 3 crore fake currencies from two houses, including special papers and cloths, special colours, four laptops, four printers, white papers, heaters, scales and paper-cutters. They said that the ring was making fake currency targeting Eid-ul-Azha, one of the biggest religious festivals for Muslims. Zakir has been doing retail and wholesale business of fake currency for the past 25 years and he is an expert in making fake taka and rupees, according to the DB. Photo by Suvra Kanti Das/ABACAPRESS.COM

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Police Arrests Five With Fake Banknotes - Dhaka

Detective Branch of police on Saturday arrested five people, including the mastermind, Liakat Hossain Zakir, and four women with fake banknotes worth Tk 1.5 crore at a fake currency factory in Kadamtali area of capital Dhaka, Bangladesh, June 8, 2024. A DB team of the Lalbagh Division raided the fake currency factory at a house from about 9:00am to 12 noon in the area. DB officials said that they had recovered fake banknotes worth Tk 1.5 crore and materials for making Tk 3 crore fake currencies from two houses, including special papers and cloths, special colours, four laptops, four printers, white papers, heaters, scales and paper-cutters. They said that the ring was making fake currency targeting Eid-ul-Azha, one of the biggest religious festivals for Muslims. Zakir has been doing retail and wholesale business of fake currency for the past 25 years and he is an expert in making fake taka and rupees, according to the DB. Photo by Suvra Kanti Das/ABACAPRESS.COM

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Police Arrests Five With Fake Banknotes - Dhaka

Detective Branch of police on Saturday arrested five people, including the mastermind, Liakat Hossain Zakir, and four women with fake banknotes worth Tk 1.5 crore at a fake currency factory in Kadamtali area of capital Dhaka, Bangladesh, June 8, 2024. A DB team of the Lalbagh Division raided the fake currency factory at a house from about 9:00am to 12 noon in the area. DB officials said that they had recovered fake banknotes worth Tk 1.5 crore and materials for making Tk 3 crore fake currencies from two houses, including special papers and cloths, special colours, four laptops, four printers, white papers, heaters, scales and paper-cutters. They said that the ring was making fake currency targeting Eid-ul-Azha, one of the biggest religious festivals for Muslims. Zakir has been doing retail and wholesale business of fake currency for the past 25 years and he is an expert in making fake taka and rupees, according to the DB. Photo by Suvra Kanti Das/ABACAPRESS.COM

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Police Arrests Five With Fake Banknotes - Dhaka

Detective Branch of police on Saturday arrested five people, including the mastermind, Liakat Hossain Zakir, and four women with fake banknotes worth Tk 1.5 crore at a fake currency factory in Kadamtali area of capital Dhaka, Bangladesh, June 8, 2024. A DB team of the Lalbagh Division raided the fake currency factory at a house from about 9:00am to 12 noon in the area. DB officials said that they had recovered fake banknotes worth Tk 1.5 crore and materials for making Tk 3 crore fake currencies from two houses, including special papers and cloths, special colours, four laptops, four printers, white papers, heaters, scales and paper-cutters. They said that the ring was making fake currency targeting Eid-ul-Azha, one of the biggest religious festivals for Muslims. Zakir has been doing retail and wholesale business of fake currency for the past 25 years and he is an expert in making fake taka and rupees, according to the DB. Photo by Suvra Kanti Das/ABACAPRESS.COM

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Police Arrests Five With Fake Banknotes - Dhaka

Detective Branch of police on Saturday arrested five people, including the mastermind, Liakat Hossain Zakir, and four women with fake banknotes worth Tk 1.5 crore at a fake currency factory in Kadamtali area of capital Dhaka, Bangladesh, June 8, 2024. A DB team of the Lalbagh Division raided the fake currency factory at a house from about 9:00am to 12 noon in the area. DB officials said that they had recovered fake banknotes worth Tk 1.5 crore and materials for making Tk 3 crore fake currencies from two houses, including special papers and cloths, special colours, four laptops, four printers, white papers, heaters, scales and paper-cutters. They said that the ring was making fake currency targeting Eid-ul-Azha, one of the biggest religious festivals for Muslims. Zakir has been doing retail and wholesale business of fake currency for the past 25 years and he is an expert in making fake taka and rupees, according to the DB. Photo by Suvra Kanti Das/ABACAPRESS.COM

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Zimbabwe cracks down on illegal money traders to stabilize new currency ZiG

STORY: Zimbabwe cracks down on illegal money traders to stabilize new currency ZiG SHOOTING TIME: May 15, 2024 DATELINE: May 18, 2024 LENGTH: 0:03:08 LOCATION: Harare CATEGORY: ECONOMY SHOTLIST: 1. various of streets, money traders, new ZiG currency 2. SOUNDBITE 1 (English): ZVIKOMBORERO SIBANDA, Zimbabwean economist 3. various of people with ZiG currency and U.S. dollar 4. SOUNDBITE 2 (English): ZVIKOMBORERO SIBANDA, Zimbabwean economist 5. various of shops 6. SOUNDBITE 3 (Shona): BRIAN PHIRI, Harare resident 7. SOUNDBITE 4 (Shona): NOREEN CHIROMBO, Street vendor STORYLINE: Illegal currency traders have disappeared on the streets of Zimbabwe's capital Harare as authorities crack down on illegal money-trading in a bid to maintain the value of the new Zimbabwe Gold (ZiG) currency. The Reserve Bank of Zimbabwe (RBZ) on April 5 introduced the new gold-backed ZiG, replacing the Zimbabwean dollar, which had been ravaged by inflation. The ZiG is part of a basket of currencies accepted as legal tender in

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Turkish police detain 38 IS suspects

STORY: Turkish police detain 38 IS suspects SHOOTING TIME: Archives DATELINE: April 29, 2024 LENGTH: 00:00:38 LOCATION: Ankara CATEGORY: LAW SHOTLIST: 1. various of Turkish police detaining suspected members of the Islamic State (IS) group across six provinces in Türkiye (courtesy of Turkish Interior Ministry) STORYLINE: Turkish police detained 38 suspected members of the Islamic State (IS) group, the country's Interior Minister Ali Yerlikaya said on Sunday. The suspects were detained in the provinces of Adana, Aydin, Corum, Gaziantep, Kayseri and Mersin in the operations dubbed "Bozdogan-31," Yerlikaya said on social media platform X, without specifying the timing of the operations. The police seized large amounts of both foreign and Turkish currencies, as well as some digital materials during the operations, he added. The Turkish government designated the IS as a terrorist organization in 2013, blaming it for a spate of deadly attacks in the country since 2015, including the January attack on

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Turkish police detain 36 IS suspects

STORY: Turkish police detain 36 IS suspects SHOOTING TIME: April 21, 2024 DATELINE: April 22, 2024 LENGTH: 0:01:31 LOCATION: Ankara CATEGORY: SOCIETY SHOTLIST: 1. Various of Turkish police detaining 36 suspected members of the Islamic State (IS) group (courtesy of Turkish Interior Ministry) STORYLINE: Turkish police detained 36 suspected members of the Islamic State (IS) group, the country's Interior Minister Ali Yerlikaya said on Sunday. The suspects were detained in Istanbul, the largest city of Türkiye, as well as in the provinces of Kayseri, Izmir, and Eskisehir, Yerlikaya said on social media platform X, without specifying the time of the operations. Some of the suspects were allegedly involved in the financial network of the group, while others were providing medicine and supplies to injured people from the IS, he said. The police seized shotguns, unlicensed pistols, large amounts of both foreign and Turkish currencies, as well as lots of digital materials during the operations, he added. The Tur

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Jordanian business insider speaks highly of cooperation with China

STORY: Jordanian business insider speaks highly of cooperation with China SHOOTING TIME: March 9, 2024 DATELINE: March 14, 2024 LENGTH: 00:01:54 LOCATION: Amman CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE 1 (Arabic): KHALIL ELHAJ TAWFIQ, Chairman of Amman Chamber of Commerce 2. various of Khalil Elhaj Tawfiq 3. SOUNDBITE 2 (Arabic): KHALIL ELHAJ TAWFIQ, Chairman of Amman Chamber of Commerce STORYLINE: China is capable of achieving growth and building partnerships with various countries, said Khalil Elhaj Tawfiq, Chairman of Amman Chamber of Commerce in a recent interview. SOUNDBITE 1 (Arabic): KHALIL ELHAJ TAWFIQ, Chairman of Amman Chamber of Commerce "China has a strong economy. China has the pioneering spirit and capacity for innovation, invention, and technology. I believe that China is capable of achieving growth even in an unconventional manner. Today, the whole world is turning to digital currencies and turning to technology. Today, even today, trade has become electronic-dominant. I believe that China

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Turkish police nab 36 IS suspects across country

STORY: Turkish police nab 36 IS suspects across country SHOOTING TIME: Jan. 18, 2024 DATELINE: Jan. 19, 2024 LENGTH: 00:00:52 LOCATION: Ankara CATEGORY: POLITICS SHOTLIST: 1. various of the operations of Turkish police to detain 36 suspects affiliated with the Islamic State (IS) across 11 provinces in the country (courtesy of the Turkish Interior Ministry) STORYLINE: Turkish police detained 36 suspects affiliated with the Islamic State (IS) over the past three days, a cabinet minister said on Thursday. The suspects were captured as part of "Operation Heroes-45" across 11 provinces in the country, Interior Minister Ali Yerlikaya wrote in a post on X, formerly known as Twitter. Yerlikaya said that Türkiye will not allow any terrorist to disrupt the peace, unity and solidarity of the country. In the operation, the police also seized a significant amount of foreign currencies, as well as digital materials and documents, he said. Video footage posted on the Turkish minister's X account showed po

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Egypt's central bank eases restrictions on credit card use abroad

STORY: Egypt's central bank eases restrictions on credit card use abroad DATELINE: Oct. 27, 2023 LENGTH: 00:01:08 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt 2. various of counting the banknotes 3. various of an Egyptian airport STORYLINE: The Central Bank of Egypt (CBE) announced on Thursday measures to ease the restrictions on credit card usage abroad, allowing clients to use their cards without limits on hard currency withdrawals abroad. The CBE explained the action comes in response to the complaints of clients on the limits of hard currency withdrawals before traveling abroad. In a bid to hedge against the severe hard currency shortage in the local market, on Oct. 17, the CBE set restrictions to limit credit card use for transactions in foreign currencies abroad amid concerns of misuse. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

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Egypt's net int'l reserves rises in August

STORY: Egypt's net int'l reserves rises in August DATELINE: Sept. 8, 2023 LENGTH: 0:01:07 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the River Nile in Cairo 2. various of the Central Bank of Egypt 3. various of an accountant counting banknotes 4. various of the Central Bank of Egypt 5. various of banks in Egypt STORYLINE: The Central Bank of Egypt (CBE) said on Thursday the country's net foreign reserves rose to 34.928 billion U.S. dollars in August 2023 from 34.88 billion dollars in the previous month. Egypt's foreign reserves consist of a basket of major international currencies, including the U.S. dollar, the euro, the pound sterling, the Japanese yen, and the Chinese yuan. The Egyptian government seeks to collect 1.5 billion dollars in external financing before the end of 2023, Minister of Finance Mohamed Maait stated on Thursday. The financing plan includes issuing 1 billion worth of yen and yuan bonds, Maait added. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

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Kuwait holds Int'l Coins and Paper Currencies Exhibition

STORY: Kuwait holds Int'l Coins and Paper Currencies Exhibition DATELINE: Sept. 5, 2023 LENGTH: 00:01:29 LOCATION: Kuwait City CATEGORY: SOCIETY SHOTLIST: 1. various of Kuwait national museum 2. Various of International Coins and Paper Currencies Exhibition STORYLINE: The Kuwait National Museum is hosting the second edition of the International Coins and Paper Currencies Exhibition. The exhibition opened on Monday under the patronage of the National Council for Culture, Arts and Literature (NCCAL) and in collaboration with the Kuwait Philatelic and Coin Collectors Association. It showcases coins and paper currencies from different eras and regions, including Kuwait, Egypt, Palestine, Iran, Afghanistan, Saudi Arabia, India, United Kingdom, and more. The exhibition aims to highlight the cultural and historical diversity of the countries and their monetary systems. Xinhua News Agency correspondents reporting from Kuwait City. (XHTV)

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KUWAIT-CAPITAL GOVERNORATE-COINS AND PAPER CURRENCIES EXHIBITION

(230904) -- CAPITAL GOVERNORATE (KUWAIT), Sept. 4, 2023 (Xinhua) -- A man visits the International Coins and Paper Currencies Exhibition at the Kuwait National Museum in the Capital Governorate, Kuwait, on Sept. 4, 2023. (Photo by Asad/Xinhua)

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KUWAIT-CAPITAL GOVERNORATE-COINS AND PAPER CURRENCIES EXHIBITION

(230904) -- CAPITAL GOVERNORATE (KUWAIT), Sept. 4, 2023 (Xinhua) -- People visit the International Coins and Paper Currencies Exhibition at the Kuwait National Museum in the Capital Governorate, Kuwait, on Sept. 4, 2023. (Photo by Asad/Xinhua)

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Italy's public debt hits new record high

STORY: Italy's public debt hits new record high DATELINE: Aug. 18, 2023 LENGTH: 00:00:39 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of street in Rome 2. various of Rome stock exchange building STORYLINE: Italy's public debt set an all-time record of 2.843 trillion euros (3.09 trillion U.S. dollars) in June, reflecting in part an increase in government borrowing, the Bank of Italy said Wednesday. That number rose by 27.8 billion euros compared to the previous month, reported the central bank. The size of Italy's public debt has risen every month this year after declining in the final three months of 2022. Currently, excluding liquid balances of the Italian Treasury such as euros, foreign currencies and other assets, public debt was 2.802 trillion euros -- the first time that figure surpassed the 2.8 trillion euros threshold. The main factor pushing debt levels higher was increased government borrowing, which swelled by 12.3 billion euros compared to a month earlier, the bank said. In addition

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Decentralized int'l financial system beneficial for global economy: Putin

STORY: Decentralized int'l financial system beneficial for global economy: Putin DATELINE: May 25, 2023 LENGTH: 0:03:58 LOCATION: Moscow CATEGORY: ECONOMY SHOTLIST: 1. various of the plenary session of the second Eurasian Economic Forum in Moscow (courtesy of Kremlin) 2. various of Moscow STORYLINE: Russian President Vladimir Putin said on Wednesday that a shift towards a decentralized international financial system will be beneficial for the global economy. Speaking at the plenary session of the second Eurasian Economic Forum in Moscow, Putin said that many rapidly developing economies are currently shifting towards the use of national currencies in international settlements. "It is important to coordinate joint efforts to create... a new, decentralized global financial system," he said, adding that this switch would be beneficial for the global economy, and would bring stability. A more decentralized financial system would make the world economy "less dependent on crisis phenomena" in countries

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Russian UN envoy stresses need to "de-dollarize" world economy

STORY: Russian UN envoy stresses need to "de-dollarize" world economy DATELINE: April 5, 2023 LENGTH: 00:01:33 LOCATION: UN Headquarters CATEGORY: POLITICS SHOTLIST: 1. various of Vassily Nebenzia taking seat 2. SOUNDBITE (English): VASSILY NEBENZIA, Russian ambassador to the UN STORYLINE: Russian ambassador to the United Nations Vassily Nebenzia on Monday stressed the need to "de-dollarize" the world economy after the West's sanctions against Russia caused concerns about the reliability of the dollar-based international payment system. Russia has been talking about the need to delink itself from the dependence on the U.S. dollar and other Western currencies for a long time, he told a press conference at UN headquarters as his country assumed the rotating presidency of the Security Council for the month of April. Dependence on the U.S. dollar and other Western currencies is not just an issue for Russia, but for many other countries, given what happened after the European Union, the United States and some

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ASEAN to switch to local currency use in region to avoid crisis

STORY: ASEAN to switch to local currency use in region to avoid crisis DATELINE: April 1, 2023 LENGTH: 00:01:00 LOCATION: Jakarta CATEGORY: ECONOMY SHOTLIST: 1. various of the ASEAN meeting 2. SOUNDBITE (English): PERRY WARJIYO, Governor of Bank Indonesia 3. various of footage of Southeast Asian countries STORYLINE: Indonesia's central bank said on Friday that southeast Asian countries have agreed to reinforce the use of local currencies in the region and reduce reliance on major international currencies in an effort to avoid spillover from the global crisis. The agreement came on the last day of a meeting of finance ministers and central bank governors of the Association of Southeast Asian Nations (ASEAN) members. SOUNDBITE (English): PERRY WARJIYO, Governor of Bank Indonesia "In this aspect, the ASEAN region agrees to reinforce the external and financial resilience among others through the use of local currency to support cross-border trade and investment in the ASEAN region. Current challenges and hea

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Trading in own currencies facilitates transaction, lowers cost: Brazilian diplomat

STORY: Trading in own currencies facilitates transaction, lowers cost: Brazilian diplomat DATELINE: April 1, 2023 LENGTH: 00:01:48 LOCATION: SHANGHAI, China CATEGORY: ECONOMY SHOTLIST: 1. various of scenes in Brazil 2. various of scenes in China 3. SOUNDBITE (English): JOSE ROBERTO DE ANDRADE FILO, Vice consul-general of Brazil in Shanghai STORYLINE: The Brazilian government recently said that Brazil and China could trade in their own currencies in the future, and not use the U.S. dollar as an intermediary. A Brazilian diplomat in Shanghai told Xinhua that such an arrangement will facilitate bilateral trade and lower the cost of transaction. SOUNDBITE (English): JOSE ROBERTO DE ANDRADE FILO, Vice consul-general of Brazil in Shanghai "China is the biggest trade partner of Brazil. It has been so for 14 consecutive years and we have all the elements to believe that this will keep being the situation for many years to come. So it's natural that we can facilitate and lower the cost of transaction. That's posi

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Africa striving for local currency usage in continental trade

STORY: Africa striving for local currency usage in continental trade DATELINE: March 31, 2023 LENGTH: 00:01:22 LOCATION: Nairobi CATEGORY: ECONOMY SHOTLIST: 1. various of the meeting 2. various of street scenes in Africa STORYLINE: The African Continental Free Trade Area (AfCFTA) is striving for the usage of local currencies in trade among countries in the continent, an official said Thursday. Cross-border trading among countries in the Economic Community of West African States is already happening through the use of local currencies instead of the use of U.S. dollars, said Wamkele Mene, secretary general of the AfCFTA Secretariat, on the sidelines of a trade forum in the Kenyan capital of Nairobi. "We now want to expand to other regional blocs including the East African Community which is in talks with the African Export-Import Bank," Mene said. He said that the cost of currency convertibility due to the use of U.S. dollars in trade among African countries is close to 5 billion dollars annually.

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TÜRKIYE-CURRENCY-LIRA-DEPRECIATION

(230329) -- ANKARA, March 29, 2023 (Xinhua) -- A customer exchanges money at an exchange office in Ankara, Türkiye, March 27, 2023. Türkiye's national currency lira may continue to weaken against hard currencies as the import-reliant country grapples with a growing current account deficit, Turkish economists have warned. TO GO WITH "News Analysis: Turkish lira may continue to weaken after general elections in May, experts say" (Photo by Mustafa Kaya/Xinhua)

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TÜRKIYE-CURRENCY-LIRA-DEPRECIATION

(230329) -- ANKARA, March 29, 2023 (Xinhua) -- Banknotes are pictured at an exchange office in Ankara, Türkiye, March 27, 2023. Türkiye's national currency lira may continue to weaken against hard currencies as the import-reliant country grapples with a growing current account deficit, Turkish economists have warned. TO GO WITH "News Analysis: Turkish lira may continue to weaken after general elections in May, experts say" (Photo by Mustafa Kaya/Xinhua)

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XINHUA-PICTURES OF THE YEAR 2022-WORLD NEWS

(230110) -- BEIJING, Jan. 10, 2023 (Xinhua) -- This photo taken on April 20, 2022 shows the U.S. Federal Reserve in Washington, D.C., the United States. Throughout 2022, the Fed has raised interest rates seven times in a row, with a cumulative increase of 425 basis points. The Fed's aggressive rate hikes have caused the exchange rates of many currencies to fall to historic lows, the imported inflationary pressure to increase sharply, the risk of debt default to rise, and the financial markets to swing wildly. (Xinhua/Liu Jie)

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Yearender: Xinhua's top 10 world news events in 2022

(221230) -- BEIJING, Dec. 30, 2022 (Xinhua) -- This photo taken on April 20, 2022 shows the U.S. Federal Reserve in Washington, D.C., the United States. Xinhua's top 10 world news events in 2022 Fed's aggressive rate hikes scourge global economy The U.S. Federal Reserve raised interest rates by 25 basis points on March 16 to stem a surge in inflation, beginning its new round of rate-hiking cycle. Throughout this year, the Fed has raised interest rates seven times in a row, with a cumulative increase of 425 basis points. The Fed's aggressive rate hikes have caused the exchange rates of many currencies to fall to historic lows, the imported inflationary pressure to increase sharply, the risk of debt default to rise, and the financial markets to swing wildly. The U.S. tightening of liquidity has pulled up the exchange rate of the U.S. dollar and transferred the crisis outward, which has led to the tightening of global financial conditions and the slowdown of world economic growth, wreaking havoc on

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Ruble crash leaves Moscow store shelves empty

MOSCOW, Russia - Shelves for TVs at a large store in Moscow are almost empty on Dec. 20, 2014, in the aftermath of a buying spree caused by the Russian ruble's plunge against the U.S. dollar and other foreign currencies.

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BOJ watching impact of falling yen after additional easing

NAGOYA, Japan - Bank of Japan Governor Haruhiko Kuroda delivers a lecture in a meeting of business leaders at a hotel in Nagoya, central Japan, on Nov. 25, 2014. Kuroda said the central bank is closely watching the impact of the yen's sharp fall against other major currencies following its additional monetary easing the previous month.

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BOJ watching impact of falling yen after additional easing

NAGOYA, Japan - Bank of Japan Governor Haruhiko Kuroda delivers a lecture in a meeting of business leaders at a hotel in Nagoya, central Japan, on Nov. 25, 2014. Kuroda said the central bank is closely watching the impact of the yen's sharp fall against other major currencies following its additional monetary easing the previous month.

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Chinese tourists flocking to Japan in Oct. holiday week

TOKYO, Japan - Chinese tourists visit Tokyo's Ginza shopping district on Sept. 24, 2014. A large number of Chinese travelers are expected to visit Japan during China's Oct. 1-7 holiday week for the National Foundation Day taking advantage of the yen's recent rapid depreciation against foreign currencies.

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Japan, China start direct currency trading

SHANGHAI, China - Photo shows a dealing room of the Shanghai branch of the Bank of Tokyo-Mitsubishi UFJ on June 1, 2012, where direct trading in the Japanese and Chinese currencies is conducted. Yen-yuan direct trading began the same day in Tokyo and Shanghai.

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Japan, China start direct currency trading

TOKYO, Japan - Photo shows a display for the Chinese yuan-Japanese yen exchange rate, along with the flags of the two countries, in the office of foreign exchange broker Tokyo Forex & Ueda Harlow Ltd. in Tokyo's Nihombashimuromachi district on June 1, 2012, when the two countries began direct trading between the two currencies in Tokyo and Shanghai.

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Japan, China to start direct currency trading

SHANGHAI, China - Photo shows a display for the Japanese yen-Chinese yuan exchange rates in a dealing room of the Shanghai branch of the Bank of Tokyo-Mitsubishi UFJ on June 1, 2012. Direct trading in the Japanese and Chinese currencies began the same day with the yuan fetching 12.33 yen at the outset, bypassing the U.S. dollar in a development expected to boost trade and investment between Asia's two biggest economies.

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Japan, China to start direct currency trading

BEIJING, China - Photo shows bills in yen (L) and yuan. Direct trading in the Japanese and Chinese currencies, bypassing the U.S. dollar, began on June 1, 2012, in a development that will help to boost trade and investment in Asia's two biggest economies.

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Direct trading between Japanese and Chinese currencies

TOKYO, Japan - A display for the Chinese yuan-Japanese yen exchange rate, along with the flags of the two countries, are displayed in the office of foreign exchange broker Tokyo Forex & Ueda Harlow Ltd. in Tokyo's Nihombashimuromachi district on May 31, 2012, on the eve of the start of the direct trading between the two currencies. Authorities of the two countries have said the direct trading will start on June 1 in Tokyo and Shanghai.

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APEC financial chiefs vow to cut global imbalances

KYOTO, Japan - Finance ministers of the Asia-Pacific Economic Cooperation forum hold a press conference after wrapping up a two-day meeting in Kyoto on Nov. 6, 2010. They pledged efforts to address global trade imbalances, in a move that could put pressure on some surplus members, including China, to move away from unfairly undervaluing their currencies as a way to boost exports.

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APEC financial chiefs vow to cut global imbalances

KYOTO, Japan - Japanese Finance Minister Yoshihiko Noda (L) speaks in a press conference after finance ministers of the Asia-Pacific Economic Cooperation forum wrapped up a two-day meeting in Kyoto on Nov. 6, 2010. On the right is U.S. Treasury Secretary Timothy Geithner. The financial chiefs pledged efforts to address global trade imbalances, in a move that could put pressure on some surplus members, including China, to move away from unfairly undervaluing their currencies as a way to boost exports. (Pool photo)

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Strong yen weighs on economy

TOKYO, Japan - Prime Minister Naoto Kan (3rd from R), Finance Minister Yoshihiko Noda (R) and Bank of Japan Governor Masaaki Shirakawa (L) attend a meeting in Tokyo on the government's monthly economic report on Sept. 10, 2010. The report said the recent sharp rise of the yen against the U.S. dollar and other major currencies could depress the Japanese economy, while maintaining its basic assessment of current economic conditions.