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Local forex reserves reach record high of US$416.8 bil.

TAIPEI--Taiwan's foreign exchange reserves rose to a fresh high of US$416.81 billion in December 2013, up US$1.25 billion from a month earlier, the country's central bank reported yesterday.

The central bank attributed the gains made in December to the appreciation of the euro against the U.S. dollar, which helped boost the conversion value of assets in other currencies.

Investment gains also helped push Taiwan's foreign exchange reserves higher, according to the central bank.

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