BUENOS AIRES, July 12 (Xinhua) -- Argentina's embattled currency regained some of its strength on Thursday, following weeks of decline.
The peso inched up 28 cents to trade at an average rate of 27.91 pesos to the U.S. dollar, according to the Central Bank of the Argentine Republic.
Retail sales of the dollar went for 27.80 pesos at the state-run national bank Banco Nacion, while the wholesale rate registered 27.23 pesos.
It was the peso's strongest performance since June 26, according to analysts, who said it signaled a calmer exchange rate market.
Gustavo Quintana, a financial analyst of PR Cambios, told the Buenos Aires-based daily El Cronista that the government measures helped shore up the peso, including raising interest rates.
One day earlier, the finance ministry drew 2.152 billion dollars from the local financial market by issuing new debt instruments, like the dollar-denominated treasury bonds, whose interest ranges from 4 percent to 5.50 percent annually.
The government, which recently secured a 50 billion dollar loan from the International Monetary Fund, has said its debt burden is "sustainable."
