REPLACE

Replaces all occurences of a specified string within a source string. The result will be the same data type as the source string (BINARY, VARBINARY, BLOB, CLOB, DBCLOB, VARGRAPHIC, GRAPHIC, VARCHAR, or CHAR).

Example:

Replace all occurences of 'N' in the string 'DINING' with 'VID'.

  SELECT CHAR(REPLACE('DINING','N','VID')
		FROM T1

Returns 'DIVIDIVIDG'.