The country's import and export prices both rose for the second straight month in March on the back of the won's depreciation against the U.S. dollar.

According to data from the Bank of Korea on Thursday, the country's import price index marked 138-point-86 in March, up zero-point-eight percent from a month earlier and rising for the second consecutive month.

The rise is mainly due to the won's depreciation against the U.S. dollar, weakening two-point-eight percent on-month in March, although the price of Dubai Crude, South Korea's benchmark, slipped four-point-four percent on-month.

The export price index also rose two percent on-month to hit 117-point-52 in March.