Colombia Stocks Flat as Peso Slips | Colombia Market Report, Nov 6
Key Facts
- The COLCAP finished flat, edging up 0.03% to 2,485, the index of Colombia’s largest listed companies stayed just under the round 2,500 mark.
- The peso lost a little ground, with the dollar rising 0.34% to 3,238 pesos, a small step back after a year in which the peso was strong.
- The dollar is still 16.2% below its 12-month high, which was 3,864 pesos on 18 December 2025, and it sits 6.4% above its 12-month low of 3,044 set on 24 August 2026.
- Oil is the anchor, and the USO fund, an exchange-traded oil fund, is down 12.10% over five sessions even after edging up 0.13% on the day.
- Colombia stood apart in the region, as the Mexican and Chilean pesos gained against the dollar while the Colombian peso weakened.
Today’s Focus
A flat index can hide a restless market, and Friday was a case in point. The COLCAP edged up 0.03% to 2,485, while the dollar climbed 0.34% to 3,238 Colombian pesos.
The bigger picture is kinder to the peso than the day suggests. The dollar is still 16.2% below its 12-month high of 3,864 pesos, set on 18 December 2025.
Yet it is 6.4% above its 12-month low of 3,044 pesos, reached on 24 August 2026, and it has risen 2.01% over five sessions. The peso is handing back a little of its gains.
Two forces did most of the work: a broad jump in the US dollar, with the dollar index up 0.72%, and a slide in oil, where the USO fund is down 12.10% over five sessions. Colombia sells a lot of oil, so cheaper crude tends to weigh on both its currency and its budget.
What matters today. For anyone holding Colombian assets, the peso rather than the index is the thing to watch, because it is leaning on oil prices and the global dollar.
01 The session in one read
Colombia’s stock market spent Friday going nowhere, while its currency quietly lost a little ground. The COLCAP — the index of the country’s largest listed companies — edged up 0.03% to 2,485, still just under the round 2,500 mark.
The peso told the livelier story. The dollar rose 0.34% to 3,238 pesos, which means each dollar bought more pesos than the day before.
The quote is called USD/COP: the number of Colombian pesos needed to buy one US dollar, so a higher number means a weaker peso. A calm share index sat on top of a jumpy currency, with a stronger global dollar and a week of falling oil doing most of the work.
The evidence points to a global dollar move layered on top of an oil-driven wobble at home, with fiscal worry as a quieter third factor. The dollar index rose 0.72% and oil is down 12.10% over five sessions, yet the Mexican and Chilean pesos gained, so the dollar alone cannot explain Colombia’s slip. The variable to watch is oil: if the USO fund keeps falling, the dollar is likely to test 3,300 pesos.
02 The day’s numbers
| Measure | Level | Change | Read |
|---|---|---|---|
| COLCAP | 2,485 | +0.03% | Flat, just under the round 2,500 mark |
| COLCAP session range | — | — | Not available for this session |
| COLCAP 52-week position | — | — | Not available; 2,500 is the round level to watch |
| US dollar in pesos (USD/COP) | 3,238 | +0.34% | Peso weaker on the day |
| Dollar vs 12-month high | 3,864 (18 Dec 2025) | −16.2% | Dollar far below its peak, so the peso is still strong |
| Dollar vs 12-month low | 3,044 (24 Aug 2026) | +6.4% | Dollar has bounced off its floor |
| Key technical level | 3,200 / 3,300 | — | Round-number floor and ceiling for the dollar |
Read the table from the bottom up. The currency has moved further than the index, and it is the currency that carries the message.
The dollar is closer to its 12-month low than to its high in relative terms, so this is a nudge rather than a turn. The two round numbers, 3,200 and 3,300 pesos, mark the corridor traders are watching. Rio Times · Live Market Intelligence
Live Market IntelligenceColombia — Live Market Board
Colombia — Live Market Board
Instrument Last Change YoY Prev. High Low Volume
COLCAP
2,485.26
+0.03%
—
—
—
—
—
USD/COP
3,240
+0.38%
-15.48%
3,227
3,252
3,219
—
BRENT
97.76
-0.54%
+54.24%
98.29
100.92
96.65
38,993
WTI
90.34
-0.20%
+52.01%
90.52
92.53
89.07
253,859
ECOPETROL
15.55
+0.06%
+56.75%
15.54
15.73
15.30
1,739,301
BANCOLOMBIA
92.37
+0.16%
+46.11%
92.22
93.69
91.27
159,278
GRUPO AVAL
4.31
+3.36%
+0.70%
4.17
4.33
4.11
217,401
TECNOGLASS
43.94
-2.64%
-11.64%
45.13
45.67
43.69
491,386
CREDICORP
347.93
-0.02%
+34.07%
347.99
358.15
343.02
358,624
BUENAVENTURA
27.99
-1.20%
+25.12%
28.33
28.35
27.52
636,779
SOUTHERN COPPER
167.27
+1.14%
+28.43%
165.38
168.83
164.77
1,127,963
03 Why it moved — a stronger dollar and cheaper oil
Cause one, and the heaviest, is a stronger dollar everywhere. The dollar index — a scoreboard of the US currency against its main rivals — rose 0.72% to 102.279, and confidence in this cause is high.
Cause two is oil, Colombia’s macro anchor. The USO oil fund edged up 0.13% on the day but is down 12.10% over five sessions, and medium confidence is fair here because the peso reacts to the trend more than the day.
The US Energy Information Administration (eia.gov) put commercial crude stocks at 409.8 million barrels in the week to 30 October, 0.9 million fewer than the week before. A drawdown is mildly supportive for prices, which fits oil steadying on the day.
Cause three is home-grown public finances, at low-to-medium confidence. Colombia’s Inspector General, Gregorio Eljach, returned funds to the Finance Ministry and said fixing the fiscal crisis is a shared job for the state and business.
04 The day’s movers
| Driver | Level / Move | Change | Note |
|---|---|---|---|
| US dollar vs peso (USD/COP) | 3,238 | +0.34% | Peso weaker |
| Dollar index (DXY) | 102.279 | +0.72% | Broad dollar strength |
| US 10-year Treasury yield | 4.867% | +3 basis points | Higher US returns pull money home |
| Oil fund (USO) | 148.41 | +0.13% | Steady on the day, down 12.10% over five sessions |
| S&P 500 | 7,377 | +0.31% | US shares edged up |
| VIX fear gauge | 25.64 | −9.01% | Fear eased but still elevated |
| Gold fund (GLD) | 372.52 | −0.79% | Haven demand cooled |
A list of drivers is not a verdict, so here is the reading. Single-share moves and turnover are not verified for this session, so we leave them out rather than guess.
The drivers disagree with the peso. The S&P 500 — the benchmark of 500 large US companies — rose 0.31% and the VIX, Wall Street’s fear gauge, fell 9.01% to 25.64, a calmer mood that normally helps emerging-market currencies.
Yet the Mexican peso gained, with USD/MXN down 0.79%, and the Chilean peso too, while Colombia’s slipped. The best-supported explanation, at medium confidence, is oil exposure and fiscal worry on top of the dollar’s rise.
05 The regional scoreboard
| Index | Country | Change |
|---|---|---|
| Ibovespa | Brazil | +1.39% |
| IPC | Mexico | +0.43% |
| IPSA | Chile | +0.68% |
| Merval | Argentina | −0.6% |
Latin America split on Friday. Brazil’s Ibovespa, Chile’s IPSA and Mexico’s IPC — their countries’ main stock indices — rose, while Argentina’s Merval fell; the live market board above carries the full closes.
The currencies matter more to readers in Mexico City, Lima or São Paulo. The Mexican peso strengthened, with USD/MXN down 0.79% to 18.607, and the Chilean peso did too, with USD/CLP down 0.29% to 975.74.
Brazil’s real was flat at 5.5053 per dollar, and Argentina’s peso was flat at 1,545. Colombia was the one currency here to weaken.
The strong peso has a price at home. Coffee exporters’ groups Asoexport and Analdex say the fall in the dollar cut coffee income by 2 trillion pesos, so Friday’s softer peso eases that pain slightly without reversing it.
06 The technical picture
On the chart, the dollar’s nearest floor is the round 3,200 pesos, and its nearest ceiling is 3,300. Beyond them sit the 12-month low of 3,044 and the 12-month high of 3,864.
The COLCAP sits at 2,485, so 2,500 is the round level overhead. A close above it would show buyers regaining confidence; failure to clear it keeps the index in a holding pattern.
The trend numbers show a gentle rebound, not a new phase. The dollar is up 0.44% over 20 sessions and 3.7% over 60, after a year in which it fell far from its December peak.
Does it stop? Only if oil steadies and the global dollar stops climbing, and neither is in Colombia’s control. Until then, a drift toward 3,300 pesos is the more likely test than a return to 3,044.
07 What to watch
- Oil: The USO fund is down 12.10% over five sessions; a stabilisation would ease pressure on the peso and Colombia’s budget.
- The global dollar: The dollar index at 102.279 and the 10-year Treasury yield at 4.867% set the tone for every Latin American currency.
- 3,200 and 3,300 pesos: The round-number corridor for the dollar; a break either way would signal a new leg.
- Public finances: Colombia’s fiscal strain, flagged by the Inspector General, can turn a quiet index into a nervous one.
Background: Colombia Stocks Slip 0.9% as Peso Gains.
Background: Colombia Stocks Fall 0.84% as Oil Slumps.
Frequently Asked Questions
How did the Colombia stock market close?
The COLCAP, Colombia’s main stock index, edged up 0.03% to 2,485, finishing just under the round 2,500 mark.
What happened to the Colombian peso?
It weakened: the dollar rose 0.34% to 3,238 pesos, driven by a stronger global dollar and a slide in oil.
Is the peso still strong over the past year?
Yes. The dollar is 16.2% below its 12-month high of 3,864 pesos, though it is 6.4% above its 12-month low of 3,044.
Why does oil matter for Colombia?
Colombia sells a lot of oil, so falling prices tend to weigh on its currency and its public finances. The USO oil fund is down 12.10% over five sessions.
Market data: The Rio Times; exchange figures from BVC
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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