Won Completes First Gain in Six Days on Oil Rally, Bond Inflows
- Foreign funds bought a net $317 million of local debt Monday
- South Korea's 10-year government bonds decline for fifth day
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The won completed its first gain in six days as an oil rally encouraged risk-taking and after foreign funds pumped money into South Korean bonds.
Brent crude traded in excess of $34 a barrel after an agreement last week between Russia and Saudi Arabia to freeze output. Overseas investors bought a net $317 million of local-currency bonds on Monday, the most since Feb. 4, paring outflows to $1.5 billion this month, exchange data show. The won fell to a five-year low last week, prompting policy makers to say that movements had been excessive and necessary action to curb volatility would be taken.