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Colombian Peso Pares Stellar Rally as Central Bank Steps In

Bloomberg Markets Monday 03 August 2026, 15:30 UTC By Nicolle Yapur and Beatriz Amat 1 min read
Key Points

Central Banks Colombian Peso Pares Stellar Rally as Central Bank Steps In The Colombian peso is on track for its biggest drop in three months after the central bank unexpectedly paused rate hikes and announced a program to build up dollar reserves, signaling that the currency’s rally has gone too far. The peso was down 2.2% as of 11:25 am Eastern time, in line for its biggest decline since May 4 after the central bank held rates at 12% on Friday. Twenty-three of 27 analysts surveyed by...

Central Banks Colombian Peso Pares Stellar Rally as Central Bank Steps In The Colombian peso is on track for its biggest drop in three months after the central bank unexpectedly paused rate hikes and announced a program to build up dollar reserves, signaling that the currency’s rally has gone too far. The peso was down 2.2% as of 11:25 am Eastern time, in line for its biggest decline since May 4 after the central bank held rates at 12% on Friday. Twenty-three of 27 analysts surveyed by Bloomberg had forecast a rate increase of at least a quarter point. IBR swaps were down across the curve, with the two-year tenor tumbling 19 basis points.
Colombian (ORG) Bloomberg (ORG) IBR (ORG)
Originally published by Bloomberg Markets Read original →

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