South Korea's foreign reserves increased by nearly 800 million dollars in March on the back of the recent weakening of the U.S. dollar.

According to the Bank of Korea on Wednesday, the nation's foreign currency reserves totaled 426-point-07 billion dollars as of the end of last month, up 780 million dollars from a month earlier when reserves declined after expanding for three consecutive months.

The rise in March is attributed to an increase in the value of non-dollar assets when converted into the greenback, with the dollar weakening two-point-four percent against major currencies in March.

As of the end of February, South Korea was the world's ninth-largest holder of foreign exchange reserves. China topped the list at over three trillion dollars, followed by Japan, Switzerland and Russia.