South Korea's foreign exchange reserves declined for the second consecutive month in May due partly to a strengthening of the U.S. dollar.

According to the Bank of Korea on Wednesday, the total value of the country's foreign exchange reserves came to 401-point-97 billion dollars as of the end of May, down two-point-06 billion dollars from a month earlier. 

It’s the second straight month foreign exchange reserves have fallen after slightly increasing in March.  

The BOK largely attributed the drop to the strengthening of the U.S. dollar and the relative depreciation of other currencies against it.

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