Colombia’s Peso Steadies Near 3,800 as Policy Rumors Cool the Rally
Key Points
- USD/COP was near 3,803.5 on ICE early Monday, while Monday’s TRM was set at 3,788.53.
- Friday’s Set-FX session saw $1.323 billion in turnover and a wide 3,766–3,810 range.
- COLCAP eased 0.26% to 2,108.70, with Terpel and ISA leading gains and Cibest slumping.
Colombia’s FX and equity markets were shut over the weekend, so the “Monday morning” read is mainly Friday’s close. Globally, the dollar tried to bounce but stayed soft.
The DXY hovered near 98.4 early Monday, after about 98.44 late Friday. BNY strategist John Velis called the mood “Friday fatigue,” with the dollar down on the week and month after the Fed’s recent cut.
Onshore, Set-FX showed USD/COP opening near 3,790, peaking at 3,810 and dipping to 3,766 on 1,639 trades. Benchmarks clustered near 3,802–3,804, even as the official TRM for Monday printed lower at 3,788.53. On ICE, the pair ended Friday near 3,803.5, down 0.71% on the week.
Oil headlines were a mixed influence. Brent traded near $61.71 and WTI near $58.03 on Friday, with Venezuela supply risk back in focus after a reported U.S. tanker seizure.
Local fundamentals favored carry. Banco de la República’s policy rate is 9.25%, with a decision due Friday, Dec. 19. Remittances remained a steady buffer, near $13 billion in 2025. URF and pension-rule chatter, plus a fracking-ban bill, lingered.
Stocks cooled again. The MSCI COLCAP closed at 2,108.70 on about COP$86.9 billion ($23 million) traded, led by PF-Cibest, then Cibest and Ecopetrol.
Friday’s top five winners were Terpel (+2.90%), ISA (+2.30%), Celsia (+1.32%), Corficolombiana (+0.95%), and Grupo Argos (+0.83%).
The top five losers were Cibest (-3.12%), PF-Aval (-1.40%), Mineros (-0.90%), Grupo Éxito (-0.76%), and Cementos Argos (-0.74%).
ICOLCAP listed net assets near COP$8.245 trillion ($2.2 billion); one-month flows were -$26 million, and Friday volume was 71,513 shares. News added friction. A Cartagena court revived a DIAN claim against Reficar worth COP$1.3 trillion ($342 million).
Fitch put Promigas on negative watch after a renewables deal plan and aligned Davibank ratings with Davivienda. Canacol faced provisional measures to shield assets. For now, the charts suggest consolidation, not a new trend.
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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