The Colombian peso traded higher on Monday, November 9, 2026, closing at an average of COP 3,269 as shifting global monetary policies and declining oil prices forced a reassessment of emerging market foreign exchange risk.
During the session, the currency shifted between a low of COP 3,235 and a high of COP 3,288.50, opening at COP 3,245. According to data reported by El Espectador, the closing price settled COP 29.50 above Friday’s rate of COP 3,239.50, representing a daily increase of 0.91%.
The Foreign Exchange Rate Rises Slightly
- The foreign exchange rate closed the session at COP 3,269, rising 0.91% compared to the prior close.
- The official Tasa Representativa del Mercado (TRM) for the session locked at COP 3,237.83, an increase of COP 9.57 or 0.30%.
Trading R Ranges and Market Mechanics
The Tasa Representativa del Mercado (TRM) established for the day sat at COP 3,237.83, reflecting an increment of COP 9.57 or 0.30% compared to Friday’s rate of COP 3,228.26. The day’s closing figures placed the final exchange rate COP 31.17 above that official reference point.
In Bogotá, physical houses bought at COP 3,155 and sold at COP 3,231, while operations in Cali recorded a purchase rate of COP 3,075 against a selling rate of COP 3,265.
| Exchange Metric | Value (COP) | Daily Variance |
|---|---|---|
| Closing Average Price | COP 3,269.00 | +0.91% |
| TRM Reference | COP 3,237.83 | +0.30% |
| Session Low | COP 3,235.00 | – |
| Session High | COP 3,288.50 | – |
Global Drivers and Energy Pressures
Andrés Rodrigo Santana Murcia, director of business administration and business intelligence at the Universidad Católica de Colombia, explained to El Espectador that the United States Federal Reserve’s decision to maintain interest rates enhanced the relative attractiveness of emerging market assets relying on yield differentials.
Concurrently, energy benchmarks experienced notable downward pressure. Portafolio.co reported that Brent crude dropped approximately 12% over the week to touch USD 93 per barrel, its lowest level in two months. Daniel Londoño, Country Manager of Global66, noted that the drop stripped away a vital export-driven support mechanism that had shielded the local currency throughout October.
Londoño highlighted that legislative outcomes in the United States suggested a compressed timeline regarding regional conflicts, while Saudi Aramco announced plans to maximize output capacity during the current quarter. Los demócratas ganaron el control de las dos cámaras del Congreso, y el mercado lo leyó como un plazo más corto para la guerra con Irán
, resalta Daniel Londoño.
Upcoming Inflation Releases
Market participants turned their attention toward incoming consumer price data. The Departamento Administrativo Nacional de Estadística (DANE) scheduled its release of the October Consumer Price Index (IPC) for Monday evening, with analyst consensus pointing toward a 6.37% annualized print compared to 6.29% in September.
Londoño warned that an elevated inflation reading would reinforce signals from the monetary policy report and potentially revive discussions regarding an interest rate hike in December. Un dato más alto reforzaría el mensaje del Informe de Política Monetaria y reabriría la discusión de un alza en diciembre, lo que le daría algo de soporte al peso
, precisó Daniel Londoño.
Uno en línea o más bajo consolidaría la pausa
, añadió. Meanwhile, United States inflation figures scheduled for Tuesday, November 10, remained poised to test the durability of the dollar’s upward trajectory.
In terms of forward parameters, Global66 established a base scenario range between COP 3,190 and COP 3,280 for the week.
