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Korea Won Posts Weekly Gain on Exporter Demand, Stock Inflows

South Korea’s won posted the first weekly advance in three as exporters repatriated overseas earnings to settle month-end bills and global funds boosted holdings of the nation’s equities.

The Kospi index of shares closed at the highest level in eight months as foreign investors bought $560.5 million more local stocks than they sold this week, exchange data show. The won weakened yesterday as the central bank reported South Korea’s economy grew 0.6 percent in the second quarter from the previous period, the slowest pace in more than a year. The government said yesterday that the current-account surplus will reach 5 percent of gross domestic product this year.