South Korea's foreign exchange reserves rose to a fresh high in January on a weakening U.S. dollar trend. 

According to the Bank of Korea on Friday, the total value of the country's foreign currency holdings came to 405-point-51 billion dollars as of the end of January, up one-point-82 billion dollars from a month earlier.

The monthly foreign exchange reserves posted growth for three straight months and it is the second month in a row that the reserves renewed the previous record.

The central bank said the recent depreciation of the U.S. dollar increased the value of non-dollar currencies when converted into the greenback.  

South Korea was the world's eighth-largest holder of foreign exchange reserves at the end of last year, with China topping the list, followed by Japan and Switzerland.