Colombia’s Peso Holds Near 3,855 As Markets Weigh Politics, Carry, And Credibility
Key Points
- USD/COP traded near 3,855 early Friday; the official TRM was set at 3,874.71.
- The MSCI COLCAP ended Thursday at 2,055.10 (+0.09%) on about COP 119.67 billion ($31 million) in turnover.
- The bull case is still “cheap valuation plus policy hopes,” but fiscal doubt keeps a discount in place.
USD/COP was near 3,854.9 in early Friday trading. On Thursday it swung roughly between 3,840 and 3,888 before settling around the mid-3,860s, leaving the peso firm but not trending.
Colombian equities barely moved. The MSCI COLCAP rose 0.09% to 2,055.10, with market value near COP 297 trillion ($77 billion). Investors still treat Colombia as a rerating story with conditions.
An EM strategist described the rally as built on “cheap valuation,” a softer dollar, and expectations of a shift toward a more market-friendly government—yet the election field and rule-setting remain the swing factors.
Offshore exposure has grown too: the U.S.-listed Colombia equity ETF COLO has about $114 million in assets and roughly $42 million of net inflows over the past year.
The global backdrop helped. A softer U.S. inflation reading nudged Treasury yields down, lifted U.S. equities, and kept the dollar index around the 98 area.
Carry remains Colombia’s strongest tailwind. The central bank’s policy rate is 9.25%. A large broker note flagged tight liquidity conditions and cited Moody’s warning that, without a credible adjustment, the deficit could exceed 7% of GDP in 2026.
The finance ministry says liability-management operations saved more than COP 21 trillion ($5.5 billion) in debt service this year.
On the stock tape, trading clustered in PF Cibest (about COP 31.84 billion, $8.3 million), Ecopetrol (COP 9.85 billion, $2.6 million) and Cibest (COP 8.41 billion, $2.2 million).
Headlines included Colombia’s recognition of Canacol Energy’s restructuring process, press chatter of a Grupo Cibest move involving Banistmo in Panama, and a joint Ecopetrol-Petrobras marketing of offshore Sirius gas (249 million cubic feet per day).
Top winners: Grupo Aval (+2.90%), Conconcreto (+1.82%), ISA (+1.36%), Grupo Cibest (+1.08%), Corficolombiana (+0.96%).
Top losers: Ecopetrol (−1.65%), Grupo Bolívar (−1.42%), Celsia (−1.32%), Éxito (−1.24%), Promigas (−0.78%).
Live Market IntelligenceColombia — Live Market Board
Rio Times · Live Market Intelligence
Colombia — Live Market Board
-1.41%
187,206.89
-0.56%
63,924.77
-0.28%
11,220.60
-0.16%
3,098,898
-1.87%
2,589.69
-1.41%
59,373.28
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| COLCAP | 2,589.69 | -1.41% | — | 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 |
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
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