Colombia Markets: COLCAP & the Peso — July 13, 2026

01 The session in one read

Colombia’s stock market closed Friday’s session on a firm note, with the COLCAP benchmark advancing to 2.307,67 · +14,92(+0,65%) points on the day. Trading stayed within a tight band throughout, Rango día · 2.284,48 · 2.307,84, with the index finishing near the top of that range.

The bigger story for foreign desks sat in the currency market. Colombia’s peso extended its remarkable 2026 run, and Banco de la República’s official print for the day landed at 3.241,750 pesos, matching the scan’s 3,242 closely.

Local trading desks captured the same move from a session-range angle: the dollar arrancó las negociaciones de este 10 de julio en COP 3.282, pero cerró muy por debajo en los COP 3.239,75, with the day’s precio máximo registrado para divisa fue de COP 3.285 y el mínimo quedó en los COP 3.231. That close matched a level su nivel más bajo desde enero de 2020, according to one local read.

Oil stayed the macro anchor. En lo corrido del año, la acción de Ecopetrol registra un desempeño sobresaliente, acumulando una valorización del 63.1%, a run tied directly to crude’s own volatile year.

02 The day’s numbers

The COLCAP’s advance leaves it roughly 10% below the 2,562 peak scaled earlier in the year, a gap that still frames the index as mid-range rather than overbought.

The peso’s story is starker: at 3,242, USD/COP sits almost exactly on its 52-week floor of 3,240, a level that has held so far but is being tested hard.

The S&P 500’s 0.42% gain to 7,575 is the one global data point worth noting here — it kept the broader risk backdrop supportive without doing the heavy lifting for Bogotá.

03 Why it moved — oil, carry trade and a weaker dollar aligned

The clearest driver was currency strength rather than equity euphoria. Colombia’s 9.25% policy rate against the Fed’s rango de 3,50% – 3,75% keeps a wide gap open, and este diferencial de tasas sustenta estrategias como el carry trade that keep drawing capital into local assets.

Brent’s own 2026 rollercoaster did its part for the index’s biggest weight. El precio del petróleo Brent creció un 29.3% en lo corrido de 2026, impulsando transitoriamente el precio hasta niveles de USD$120 por barril, para luego estabilizarse en un promedio de USD$79 por barril, repairing Ecopetrol’s cash-flow outlook.

None of this is happening risk-free. La incertidumbre fiscal, acentuada tras el recorte en la calificación soberana de Colombia por parte de una agencia global de calificación crediticia y el proceso electoral figuran como factores que podrían generar presiones alcistas sobre la tasa de cambio in the months ahead.

For now, though, six-year-low territory is the dominant narrative — una reducción cercana al 2,9% en el precio del dólar, suficiente para llevar la tasa de cambio a mínimos de más de seis años gives the peso rally real technical weight.

04 The day’s movers

This session’s name-by-name breakdown for Bancolombia, ISA, Grupo Sura and GEB was not available in today’s scan, so those rows stay unconfirmed rather than estimated.

Ecopetrol’s role as the exchange’s volume anchor is well established, but claiming an exact Friday percentage without a verified print would be guesswork — the honest call is to flag it and point traders to the live board.

05 The regional scoreboard

Only Colombia’s own close is verified for this table today; the rest are left blank rather than guessed at.

The live market board above carries the full closes for every regional index and name covered in this wrap.

06 The technical picture

On the equity side, 2,284 marks Friday’s intraday floor and immediate support, with the index needing a push back toward its 52-week high of 2,562 to signal a fresh leg higher.

The currency chart is the sharper one to watch: 3,240 is the 52-week low and the line in the sand for USD/COP bears, and a break below opens air toward levels flagged by local desks as the market already positions for a move cerca de la barrera de los 3.100 pesos.

A close back above 3,285 — Friday’s intraday high — would be the first sign that the dollar’s slide is pausing rather than accelerating.

For now the path of least resistance in the currency remains down, which keeps indirectly supporting COLCAP-listed exporters and dollar-cost importers differently.

07 What to watch

• Brent crude: Oil’s swings remain the single biggest variable for Ecopetrol and, through it, the COLCAP’s heaviest constituent.
• USD/COP 3,240 floor: A break of the 52-week low would confirm the peso’s multi-year breakout; a bounce would suggest the rally is stretched.
• Rate differential: Colombia’s 9.25% policy rate versus the Fed’s 3.50%-3.75% band is the engine behind carry trade inflows; any narrowing changes the calculus.
• Sovereign rating and fiscal path: Further rating pressure or fiscal slippage could quickly reverse the capital inflows now supporting both the peso and the index.

Background: Colombia’s Peso Just Had Its Best Month in a Decade.

Background: Foreign Investment in Colombia Fell Again in June, to $634M.

Frequently Asked Questions

Where did the COLCAP close on July 10, 2026?

At 2,307.67 points, up 0.65% on the day, within a session range of 2,284.48 to 2,307.84.

Where did USD/COP close?

Around 3,242 per Banco de la República’s official print, a whisker above its 52-week low of 3,240 and roughly 16% below its yearly high.

Why is the peso so strong?

A wide gap between Colombia’s 9.25% policy rate and the Fed’s 3.50%-3.75% band, alongside carry trade flows and a firmer oil backdrop, has kept the currency appreciating.

What is the biggest risk to the rally?

Fiscal uncertainty tied to Colombia’s sovereign rating and the coming election cycle, which could reverse the capital flows now supporting the peso.

LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.