US dollar rises to 3,239 Colombian pesos on pension rule shift

The US dollar rose against the Colombian peso on October 7, 2026, driven by regulatory changes for private pension funds and expectations surrounding September inflation data. The currency opened at 3,240 Colombian pesos, traded between a low of 3,215 and a high of 3,265, and averaged 3,239 Colombian pesos. That average represented an increase of 22 pesos compared to the official rate of the day of 3,216.01 Colombian pesos. Trading volume reached 697 million dollars across 1,021 transactions, while the Colombian peso maintained an accumulated appreciation of 13% so far in 2026.

The administration of President De La Espriella eliminated the 30% overall ceiling on foreign asset investments by private pension funds. The restriction, originally enacted in April, required funds to lower international exposure and direct new contributions into domestic assets. Analysts at financial firm Corficolombiana noted that the change offers pension funds greater flexibility to diversify across markets, currencies, and asset classes, while clarifying that removing the 30% cap will not trigger an automatic capital outflow because specific prudential, liquidity, and risk-management limits remain in place.

Markets also monitored the release of Colombia's September consumer price index scheduled for the afternoon of October 7, 2026. Andrés Sánchez, foreign-exchange associate at Credicorp Capital, stated that market consensus projects a monthly inflation increase of 0.40% and an annual rate of 6.32%. The inflation print directly influences upcoming monetary policy decisions by Banco de la República.

In global markets, the US dollar gained ground against the euro, reaching its strongest level since mid-May 2025 alongside higher long-term US Treasury yields. Thadeu Dos Santos, regional director at international brokerage Infinox, reported that traders assign a near 20% probability to a Federal Reserve rate hike in October, down from nearly 40% the prior week. The shift followed September nonfarm payroll growth of 29,000, well below the 90,000 expected, while the US unemployment rate rose to 4.2%. Political uncertainty and fiscal concerns in France added downward pressure on the euro.