Wavelength converters are used in WDM networks to avoid call blocking and minimizing the blocking probability. Optimal placement of wavelength converters restricts the call blocking probability, the complexity and improves the overall network performance of the network. In this paper, we propose a new weight dependent routing and wavelength assignment algorithm for the optimal placement of the wavelength converters. The wavelength converter placement was considered separately at all the nodes and the partial nodes. Our algorithm outperforms the previously reported studies and requires a lesser number of wavelength converters to achieve the required performance. It reduces the blocking probabilities up to 5.4% and shows that the first four nodes primarily control the blocking performance of the network. The study also reveals that instead of merely increasing the number of converters, their placement at the right location plays a crucial role in improving the performance. Initially, although an increase in the number of the wavelengths also improves the network performance, the further increase does not contribute much to the reduction of the blocking probability.