South Korea's foreign reserves increased by some 500 million dollars last month on the recent depreciation of the U.S. dollar.

According to the Bank of Korea(BOK) on Wednesday, the nation's foreign currency reserves stood at 421-point-45 billion dollars as of the end of June, up 470 million dollars from a month earlier.

The reserves rebounded a month after declining for the first time in three months in May.

A BOK official pointed to a depreciation of zero-point-eight percent in the U.S. dollar last month, which raised the value of non-dollar assets.

As of the end of May, 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 India.