Colombia’s Peso Steadies After A Late-Dollar Push, While Stocks Cool From A Hot Year
Key Points
- The peso is holding near 3,818 per $1 after Monday’s late-session jump, with traders watching a tight 3,800–3,830 zone.
- Wage talks and a firming dollar backdrop are keeping inflation and policy risk in focus, even as carry still supports the peso.
- Colombian equities slipped, but the year’s rally remains intact, with ETFs showing soft daily marks and selective rotation.
The Colombian peso opened the week on the back foot and is now trying to settle. The official TRM for Tuesday is 3,817.59 per $1, broadly in line with spot screens around 3,818–3,819.
That follows Monday’s swing from 3,790 to a 3,830.25 high, with the session closing at 3,830.25 after roughly $1.13 billion traded across about 1,639 deals. The external tone is cautious rather than panicky.
The dollar index has nudged back toward 98.26 ahead of key central-bank decisions and delayed U.S. labor data. Oil has been choppy in the high-$50s, which matters for Colombia’s terms of trade and keeps the peso sensitive to swings in crude.
At home, the wage story is the main fundamental pressure point. Unions are pushing for a 16% minimum-wage rise, while employers have floated 7.21%. If negotiations fail, the decision may shift to a decree.
Markets tend to reward the more restrained path, and they penalize anything that risks entrenching inflation. Technically, USD/COP is coiling. On the 4-hour chart, it is consolidating around 3,815–3,820.
On the daily, price is pinned near crowded moving averages around 3,820–3,832. Resistance sits at 3,830, then 3,848–3,861. Support is 3,800, then 3,793 and 3,777.
Equities eased as well. The MSCI COLCAP closed Monday at 2,091.60, down 0.81%, on about 92.18 billion COP in value traded.
The local ICOLCAP ETF marked a NAV of 20,765.58 COP, down 0.81%, with net assets around 8.18 trillion COP. In the U.S., the Global X COLO ETF showed net assets of $115.90 million, with NAV down 0.93% to $37.39.
Five winners (day move): Terpel +1.57%, Corficolombiana +1.04%, Enka +1.02%, Mineros +0.78%, Conconcreto +0.67%.
Five losers (day move): Fabricato -3.81%, PFCibest -1.44%, PFGrupoSura -1.41%, Ecopetrol -1.08%, Cibest -0.86%.
One desk line captured the mood: “USD/COP maintains a downward bias supported by carry and regional risk appetite.” The bias is real, but this week’s politics and the dollar’s defensive tone are testing it.
Live Market IntelligenceColombia — Live Market Board
Rio Times · Live Market Intelligence
Colombia — Live Market Board
+0.36%
166,334.86
-0.27%
63,933.69
-0.50%
11,186.57
+0.34%
2,891,651
+0.00%
2,461.23
+0.36%
58,401.58
-1.35%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| COLCAP | 2,461.23 | +0.36% | — | 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 |
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