Colombia’s Peso Wobbles Near 3,650 As Stocks Take A Breather From Record Highs
Key Points
- USD/COP traded near 3,649 per $1, below the official TRM of 3,678.59 per $1.
- The COLCAP pulled back to 2,496 after a fast rally, with momentum still stretched.
- Global dollar weakness and regional trade friction are now setting the daily rhythm.
Colombia’s markets opened January 28 with a pause, not a panic.The exchange rate on the ICE reference hovered near 3,649 pesos per $1 in early trade.
That left spot below the official TRM of 3,678.59 pesos per $1. The message was clear. Local dollar supply was still strong. Yet the bounce from the week’s lows also showed buyers returning on dips.
Tuesday’s session framed the move. After a strong peso day, USD/COP was cited around 3,622 in late trade. At the same time, dollar index futures fell sharply, reflecting broad selling pressure.
Traders were watching the yen, after sharp moves raised fresh talk of official action to curb volatility. Markets also leaned into safe-haven assets ahead of the next Federal Reserve decision.
In Colombia, the policy calendar remains the anchor. Banco de la República meets January 30. Investors are focused on whether inflation risks force a firm stance. That credibility has helped the peso hold gains through January’s slide.
The charts show a market searching for balance. On the weekly view, USD/COP still trends lower. Momentum remains soft.
On the daily view, moving averages still cap rebounds, with resistance clustered around 3,663–3,694, then 3,747. Support sits near 3,589–3,620. The 4-hour chart shows a recovery attempt, but the move looks tactical so far.
Equities finally cooled. The MSCI COLCAP slipped to about 2,496 after a long climb. The rally had pushed momentum into stretched territory across timeframes. A pullback now looks like digestion, unless selling accelerates.
Politics also matters this week. Colombia and Ecuador are locked in a tariff dispute. Ecuador also lifted pipeline transit fees from $3 to $30 per barrel. That adds headline risk for energy-linked names.
Top Winners (Jan 27 session)
- Banco de Occidente +13.64%
- Bolsa de Valores de Colombia +7.31%
- COLSC +5.31%
- Grupo Aval +4.77%
- Davivienda (P) +4.66%
Top Losers (Jan 27 session)
- Grupo Cibest (P) -3.57%
- Nutresa -3.37%
- ISA -2.98%
- Grupo Cibest -1.87%
- Cementos Argos (P) -1.50%
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
-0.22%
175,963.54
-0.38%
66,529.27
+0.85%
10,960.27
-0.58%
3,288,122
+1.82%
2,293.65
-0.22%
57,174.37
—
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| COLCAP | 2,293.65 | -0.22% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| USD/COP | 3,216 | -0.62% | -19.77% | 3,236 | 3,257 | 3,209 | — |
| BRENT | 85.20 | +0.55% | +24.00% | 84.73 | 86.53 | 83.34 | 50,122 |
| WTI | 79.86 | +0.66% | +20.05% | 79.34 | 80.93 | 78.19 | 206,381 |
| ECOPETROL | 16.15 | -0.06% | +82.86% | 16.16 | 16.24 | 15.92 | 1,816,124 |
| BANCOLOMBIA | 81.37 | -0.89% | +82.45% | 82.10 | 83.00 | 81.37 | 193,321 |
| GRUPO AVAL | 5.07 | +2.42% | +74.23% | 4.95 | 5.08 | 4.97 | 77,690 |
| TECNOGLASS | 45.96 | +3.90% | -37.94% | 44.23 | 46.00 | 44.49 | 111,414 |
| CREDICORP | 397.24 | +1.27% | +79.15% | 392.24 | 399.88 | 392.09 | 154,209 |
| BUENAVENTURA | 31.09 | +0.19% | +89.21% | 31.03 | 31.37 | 30.10 | 521,365 |
| SOUTHERN COPPER | 181.27 | -0.61% | +91.86% | 182.38 | 184.75 | 176.75 | 690,931 |
Also tracking regional peers: Chile’s IPSA closed the same session.
Related coverage: Brazil’s Morning Call | Colombia’s Cauca Sees Deadly Drone Attack As Violence Return
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