South Korea's foreign reserves have hit another record high in July on increased returns on foreign currency assets. 

According to the Bank of Korea(BOK) on Wednesday, the nation's foreign currency reserves reached a fresh high of 458-point-seven billion U.S. dollars as of the end of last month, up four-point-six billion dollars from a month earlier. 

The previous record of 456-point-four billion dollars was set in May. 

The central bank said the rise in July is attributed to increased returns on its foreign currency assets and a rise in foreign currency deposits at financial institutions. 

As of the end of June, South Korea was the world's eighth largest holder of foreign exchange reserves. 

China topped the list at over three-point-one trillion dollars, followed by Japan and Switzerland.