Argentina's peso firms to 4-month high as farmers seek pesos

BUENOS AIRES: Argentina's peso climbed to a four-month high on Friday as farmers sought to exchange dollars received from the sale of their soy harvest for pesos, despite efforts by the central bank to limit the currency's climb.

The peso closed at 13.91 per dollar, up 0.65 percent over Thursday's close and strenthening 0.86 percent this week.

Center-right President Mauricio Macri allowed the peso to float after taking office in December, spurring a slide in the curreny to 15.76 per dollar in Febuary.

But the soy harvest, a deal with holdout investors who had refused debt restructurings after a record 2002 default and declining interest rates have helped the peso firm to current levels.