Colombia’s Peso Firms as Oil-Led Equity Rally Tests New Highs
Key Points
- USD/COP traded around 3,758 early Tuesday after a volatile Monday that saw a 3,732–3,845 swing on thin liquidity.
- The MSCI COLCAP jumped 3.15% to 2,134.26 on Monday, led by oil and utilities, while a handful of names fell.
- Colombia-focused ETF flows turned positive short-term, but positioning still looks stop-start and headline-sensitive.
Colombia’s markets opened Tuesday with the peso firmer and equities still wearing Monday’s relief rally, as traders weighed a softer U.S. dollar—DXY hovered near 98.2—against lingering geopolitical noise and steadier oil.
In FX, USD/COP was indicated near 3,758 early Tuesday, below the official TRM of 3,770.03. Monday’s session was the real story: Set-FX figures cited locally put the average close at 3,770.42, down 20.35 versus the day’s TRM of 3,790.77, after opening at 3,817.77 and trading 3,732.60–3,845.00.
Turnover was about $888 million across 1,170 transactions. Corficolombiana strategist Mauricio Acevedo framed the Venezuela news as “one more headline” for COP in the near term, adding that any lasting normalization would likely matter more through trade and risk premia than overnight FX swings.
Technically, the daily USD/COP chart still reads as a broader downtrend: rallies look corrective unless the pair can reclaim roughly 3,780–3,820. The 4-hour view fits that story—more of a bounce and consolidation than a clean reversal.
Equities delivered the sharper move. The MSCI COLCAP surged 3.15% to 2,134.26, with reported turnover around COP 217.27 billion. Ecopetrol rose about 5.2% to COP 2,020, trading roughly COP 60.68 billion on 31.09 million shares.
Local advisors tied the rally to Brent’s advance (about 1.68% in their recap) and oil supply chatter; Gregorio Gandini also cited OPEC not increasing output as supportive.
Top Winners (Mon): ISA +7.20%; Grupo Sura +6.24%; Ecopetrol +5.21%; Almacenes Éxito +5.12%; Grupo Cibest (P) +4.13%.
Top Losers (Mon): Enka −3.45%; Cementos Argos (P) −1.95%; Nutresa −1.36%; Grupo Argos −0.93%; Promigas −0.46%.
Offshore, the old iShares Colombia ETF (ICOL) is gone; Global X’s COLO had about $116.9 million in assets, roughly $3.6 million of five-day inflows, and about 624,000 shares traded Monday.
With BanRep’s policy rate still 9.25%, carry helps—but the next decisive move will likely come from oil and headlines, not charts.
This is part of The Rio Times’ daily coverage of Colombian markets and Latin American financial news.
For context on regional markets, see Brazil’s Ibovespa for the same session.
Live Market IntelligenceColombia — Live Market Board
Rio Times · Live Market Intelligence
Colombia — Live Market Board
+0.38%
178,233.52
+1.46%
65,484.32
-0.53%
11,431.88
-0.12%
2,999,080
+0.66%
2,467.23
+0.38%
59,928.30
-0.14%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| COLCAP | 2,467.23 | +0.38% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| BRENT | 88.88 | -0.03% | +34.42% | 88.91 | 90.07 | 88.12 | 29,713 |
| WTI | 83.11 | -0.11% | +31.57% | 83.20 | 84.35 | 82.40 | 166,848 |
| ECOPETROL | 16.92 | -0.53% | +98.01% | 17.01 | 17.05 | 16.79 | 737,591 |
| BANCOLOMBIA | 95.87 | -2.18% | +96.15% | 98.01 | 100.36 | 95.73 | 188,740 |
| GRUPO AVAL | 5.40 | +2.66% | +76.89% | 5.26 | 5.49 | 5.32 | 146,447 |
| TECNOGLASS | 42.30 | -1.10% | -48.04% | 42.77 | 42.73 | 42.05 | 60,908 |
| CREDICORP | 375.17 | -0.49% | +49.60% | 377.00 | 384.43 | 372.27 | 88,375 |
| BUENAVENTURA | 34.45 | -1.02% | +88.07% | 34.80 | 35.62 | 34.33 | 275,831 |
| SOUTHERN COPPER | 193.97 | -0.26% | +104.01% | 194.48 | 199.36 | 192.59 | 367,102 |
Also tracking regional peers: Chile’s IPSA closed the same session.
Related coverage: Brazil’s Morning Call | Colombia Warns It Will Defend Its Sovereignty if the U.S. In
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
Read More from The Rio Times