US dollar opens at COP 3,241.50 as Colombia inflation cools

The US dollar opened at 3,241.50 Colombian pesos on October 8, 2026. In early trading, the currency traded between a low of COP 3,233.50 and a high of COP 3,248, averaging COP 3,236. That average marks stability against the official exchange rate benchmark of COP 3,238.88.

The session followed Colombia's September inflation report released on the evening of October 7, 2026. Monthly consumer prices rose 0.37%, coming in below the 0.40% forecast by analysts and bringing annual inflation to 6.29%. The slower pace could lead the Banco de la República to slow its interest-rate increases.

Andrés Sánchez, foreign exchange associate at Credicorp Capital, noted that markets are also absorbing US weekly initial jobless claims. Filings reached 197,000, below the 200,000 expected by economists, which reflects ongoing strength in the US labor market and supports the US currency.

Crude oil rose 3.66% to trade at $104.90 per barrel at the start of the day amid doubts that Donald Trump will avoid escalating tensions with Iran ahead of the midterm elections. Meanwhile, the International Energy Agency is expected to discuss emergency release plans for up to 100 million barrels of diesel and crude oil to ease supply pressure.

The Colombian peso has gained 13.7% against the US dollar so far in 2026. However, minutes from the Federal Reserve's latest meeting showed most officials favor another rate hike before year-end. A Banco de Bogotá economic research report noted that the probability of an October hike dropped below 20%, while the chance of a December hike rose above 80%.