Won Erases Losses as Exporters Seen Selling Dollars; Bonds Gain

South Korean’s won erased losses on speculation exporters repatriated overseas sales after the currency fell to near a six-week low, and as global funds bought local shares. Government bonds rose.

The won gained 0.4 percent to 1,122.41 per dollar in Seoul, according to data compiled by Bloomberg. It earlier fell 0.3 percent to 1,129.90 after weakening to 1,131.43 last week, the lowest level since April 12. The currency fell for a third week in the five days through May 24, its longest losing streak in two months, as Federal Reserve Chairman Ben S. Bernanke said the central bank may reduce monetary stimulus that has fueled demand for emerging-market assets.