diff --git a/cumulus/parachain-template/pallets/template/Cargo.toml b/cumulus/parachain-template/pallets/template/Cargo.toml
index f47d82c979..1ccdc6622b 100644
--- a/cumulus/parachain-template/pallets/template/Cargo.toml
+++ b/cumulus/parachain-template/pallets/template/Cargo.toml
@@ -21,7 +21,7 @@ frame-support = { git = "https://github.com/paritytech/substrate", default-featu
 frame-system = { git = "https://github.com/paritytech/substrate", default-features = false, branch = "master" }
 
 [dev-dependencies]
-serde = { version = "1.0.132" }
+serde = { version = "1.0.163" }
 
 # Substrate
 sp-core = { git = "https://github.com/paritytech/substrate", default-features = false, branch = "master" }