South Korea's foreign exchange reserves slipped for the first time in half a year in August. 

The Bank of Korea said Wednesday that foreign exchange reserves fell by one-point-32 billion dollars from the previous month to stand at 401-point-one billion dollars at the end of August. 

The nation’s foreign exchange reserves had reached record highs every month between March and July.

The central bank blamed the decline on the weakness of foreign currencies against the U.S. dollar, which resulted in a sharp decline in non-dollar assets.

As of the end of July, South Korea held the ninth largest foreign exchange reserves in the world. 

China topped the list followed by Japan and Switzerland.