THE ARGENTINIAN peso plunged on Monday after a far-right candidate who admires former US president Donald Trump came first in primary elections that will help determine the country’s next president.

Javier Milei received the biggest share of primary votes for presidential candidates in the October general election to decide who leads a nation battered by economic woes.

Mr Milei, 52, wants to replace the peso with the US dollar and says that Argentina’s Central Bank should be abolished.

He has said that climate change is a lie and has characterised sex education as a ploy to destroy the family. He has also said that the sale of human organs should be legal.

Argentina’s government decided to devalue its currency by 20 per cent on Monday after the surprising vote.

Argentina requires that citizens vote, with a symbolic financial penalty for not voting, and 69 per cent of the country’s 35 million voters went to the polls, each choosing candidates for positions ranging from local councilman to president.

It marked the lowest participation for presidential primaries since the current system was set up in 2009.