Analysts estimate the government has spent that much to contain the exchange rate gap since announcing ‘Phase 2’ of its economic plan in mid-July

A 10-point cut to the tax, for trade purposes only, took effect on Monday morning

Analysts say that the roll back of the PAIS tax signals that the priority is lower inflation and not the end of the ‘cepo’

The reduction from 17.5% to 7.5% will not affect credit or debit card purchases in U.S. dollars

The move is part of a legal tit-for-tat between the retail juggernaut’s e-wallet Mercado Pago and the banks’ MODO

The scheme is moving at a crawl, but changes to the PAIS tax may be helping the Central Bank shore up dollar purchases

The index plummeted after showing growth in May, the only month of the year so far to have a positive value

The ‘Diarco dollar’ will allow shoppers to pay for purchases with dollars at a rate that’s currently above the blue dollar

The government, meanwhile, continues to fight a court-mandated order to deliver food stashed in warehouses