South Korea’s foreign reserves have dwindled for the first time in three months.

The Bank of Korea(BOK) data released on Friday showed South Korea’s reserves were worth about 370-point-nine billion dollars at the end of May, one-point-58 billion dollars lower than in April.

The central bank explained that the strengthened U.S. dollar have depreciated the values of the assets denoted in non-dollar currencies such as euro and yen.  

As of late April, South Korea maintained its standing as the world’s seventh largest foreign reserve holder.  

China’s foreign reserve war chest remained the largest at three-trillion-219-point-seven billion dollars, up by seven-point-one billion dollars from March.

Japan came second with one-trillion-262-point-five billion dollars, followed by Switzerland, Saudi Arabia, Taiwan and Russia.