South Korea's foreign reserves increased by approximately two-point-four billion U.S. dollars in August, amid the depreciation of the U.S. dollar.

According to the Bank of Korea (BOK) on Wednesday, the nation's foreign currency reserves stood at 415-point-92 billion dollars as of the end of August, up two-point-41 billion dollars from a month earlier.

The BOK said that despite a fall in foreign currency deposits, the FX reserves rose due to an increase in gains from investments and the increased value of non-dollar assets, following a three-point-one percent depreciation of the U.S. currency last month. 

As of the end of July, South Korea ranked ninth in the world in terms of foreign exchange reserves, with China topping the list at over three trillion dollars, followed by Japan, Switzerland, and India.