Finance

Banco de la República expects to meet below-4% inflation target by 2028
Banco de la República governor Leonardo Villar said the country's projected spending adjustment supports meeting the below-4% inflation target by 2028. He acknowledged that the targets will not be met this year or next, and attributed the improvement in expectations to the 235-basis-point interest rate hike in the first quarter, complemented by another 25 basis points. He spoke at the 36th National Congress of Family Compensation Funds in Cartagena.
FinanceColombiaELHERALDO.COOct 22AI
Dollar closed at COP 3,174 in Colombia, COP 17 below the TRM
The U.S. dollar closed the October 22 session in Colombia at COP 3,174, a drop of COP 17 from the COP 3,191 TRM set by the Financial Superintendency. The session opened at COP 3,193, with a high of COP 3,197 and a low of COP 3,171, and an average price near COP 3,185. About USD 1.104 billion was traded, with average transactions of USD 713 million.
FinanceColombiaRevista SemanaOct 22AI
BanRep reports weaker regional economic momentum in third quarter after August 10 earthquake
Banco de la República's reports on the second and third quarters of 2026 show household consumption supported part of the activity, while industry, construction and agriculture faced difficulties. In the third quarter activity lost momentum across all regions, with effects from the August 10 earthquake and weather conditions. New home sales fell in all seven regions and coffee exports totaled 8.45 million bags between January and September, 13.8% less than in 2025.
FinanceColombiaEl EspectadorOct 22AI
Colpensiones to raffle two $217 million housing vouchers in January 2027
Colpensiones will raffle two vouchers of $217 million each on January 21, 2027, in Bogotá, for home purchase, equipment or remodeling, as part of the Ahorrar es Ganar 2026 campaign linked to the BEPS program and authorized by Coljuegos. The initiative, running until December 31, 2026, includes 1,002 prizes: it also offers 1,000 consumption vouchers of $1,580,000 in three regional raffles. To join BEPS, applicants must be Colombian, at least 18 years old and earn less than one monthly minimum wage.
FinanceColombiaEl ColombianoOct 22AI
Villar: to cut rates in Colombia, the fiscal problem must be solved first
Banco de la República governor Leonardo Villar said at the Colombian Construction Congress in Cartagena that high interest rates hurt home purchases but are necessary to control inflation. According to Villar, high public spending made the central bank's task harder, and he noted the budget envisions a deficit of 9.4% of GDP, which would fall to 7.2% after the adjustment law. He called for fiscal policy to move in the same direction as monetary policy.
FinanceColombiaBlu RadioOct 22AI
Villar: high rates hurt housing but are needed to control inflation
Banco de la República Governor Leonardo Villar said at the Camacol Congress that high interest rates are bad for housing but necessary to control inflation and bring it to target. He attributed the sector's sharp declines to multiple circumstances, including the change in subsidy policy and, in particular, high rates. He noted that, since housing loans are long-term, an expectation of controlled inflation will help lower interest rates.
FinanceColombiaRevista SemanaOct 22AI
Colombia's dollar opens at 3,182 pesos, down 9 pesos from the TRM
The dollar in Colombia began Thursday, October 22, trading at an average of 3,182 pesos, down 9 pesos from the TRM of 3,191.47. Experts expect the 3,200 level to be breached during the session and say this behavior has been normal since 2015, when the currency tends to rise in October and November. Meanwhile, Wall Street opened lower, with the Nasdaq down 1.50%, and WTI rose 2.54% to 99.61 dollars.
FinanceColombiaELHERALDO.COOct 22AI
Leonardo Villar acknowledges high rates hurt housing but rules out hasty cuts
At the 2026 Colombian Construction Congress, Banco de la República governor Leonardo Villar acknowledged that high interest rates are a problem for housing construction in Colombia. While he said he would "love" to lower them, he warned that the board will remain cautious to avoid a resurgence of inflation and will not apply artificial cuts that jeopardize disinflation.
FinanceColombiaEl TiempoOct 22AI
Dollar opened at COP 3,178.69 in Colombia on October 22, COP 12.78 below the TRM
The dollar opened this Thursday, October 22, at COP 3,178.69 in Colombia, a decrease of COP 12.78 from the day's TRM, which stood at COP 3,191.47. During the morning the currency traded between a low of COP 3,171 and a high of COP 3,193. Corficolombiana's currency and derivatives strategist Mauricio Acevedo said there was a high probability the cycle would start upward and placed resistance levels at COP 3,202, COP 3,214 and COP 3,220.
FinanceColombiaEl Universal (Cartagena)Oct 22AI
Dollar opens higher in Colombia: October 22 TRM at COP 3,191.47
The US dollar starts the October 22, 2026 session in Colombia with a Representative Market Rate of COP 3,191.47, according to the Banco de la República, up from the October 21 report. At exchange houses, buying ranges from COP 3,081 in Medellín to COP 3,190 in Cúcuta, and selling from COP 3,193 in Medellín to COP 3,380 in Cartagena. Brent opened at 112.45 dollars per barrel and Bitcoin trades at 81,978 dollars.
FinanceColombiaCaracol RadioOct 22AI
Dollar opens higher in Colombia as 2027 budget, Fed and oil weigh on the currency
The dollar started the October 22 session higher in Colombia, pressured by local and international factors. Domestically, the 2027 General Budget, which will take effect with the text approved in the first debate for COP 634.9 billion, and the central bank's upcoming rate decision are weighing. Abroad, September inflation in the United States, which rose to 3.7% annually, expectations around the Fed and oil prices are factors. The session's high was COP 3,202.
FinanceColombiaEl EspectadorOct 22AI
Five Colombian regions fall into negative territory as national growth nears zero in the third quarter of 2026
The Banco de la República's Pulso Económico Regional report indicates that Colombia's economy would have grown 0.01% between July and September 2026, after a 3.5% expansion in the second quarter. Five of the seven regions moved into negative territory, with the sharpest deteriorations in Suroccidente and the Central Cafetera region. The August 10 earthquake, high temperatures from forest fires and the decline in housing weighed on productive activity. August was the worst month, at -0.03%.
FinanceColombiaDiario del SurOct 22AI
Colombia's dollar TRM rose to 3,191.47 pesos on October 22
The Representative Market Rate (TRM) stood at 3,191.47 pesos per dollar on Thursday, October 22, 2026, an increase of 27.71 pesos from the 3,163.76 pesos on Wednesday, October 21, equivalent to about 0.88%. Colombia's Financial Superintendence publishes the official rate, while buy and sell prices at banks and exchange houses may differ from the TRM.
FinanceColombiaDiario del SurOct 22AI
What the nominal exchange rate is and how it explains the peso's appreciation or depreciation against the dollar
The nominal exchange rate indicates how many Colombian pesos are needed to buy one US dollar. When the rate rises, the peso depreciates and imports become more expensive; when it falls, the peso appreciates, making foreign goods cheaper but reducing exporters' competitiveness. The Representative Market Rate (TRM) is calculated as the simple average of the weighted rates of daily dollar purchase and sale transactions, with participation from commercial banks, brokerage firms, the National Development Finance Company and Bancoldex. The latest published reference sets one dollar at 3,191.47 pesos.
FinanceColombiaPulzoOct 22AI
Dollar opens at COP 3,193, COP 2 above the TRM for October 22
The dollar opened the October 22 session at COP 3,193, a COP 2 increase from the COP 3,191 TRM set by the SuperFinanciera. In the first minutes the currency showed volatile behavior, with a high of COP 3,193, a low of COP 3,171 and an average price of COP 3,178. Traded volume so far stands at 77 million. Globally, the dollar index fell 0.18% to 70.905 units.
FinanceColombiaRevista SemanaOct 22AI
Dollar opened at 3,193.00 pesos in Colombia on October 22, 2026
The dollar price in Colombia opened on October 22, 2026 at 3,193.00 pesos, according to the Banco de la República. The Representative Market Rate stood at 3,191.47 pesos, up 27.71 pesos from the previous session. At exchange houses, the first buying rates detected were 3,180 pesos in Bogotá, 3,100 in Cali, 3,750 in Cartagena and 3,100 in Medellín.
FinanceColombiaNoticias RCNOct 22AI
Colombian economy fell 0.04% in August, hit by agriculture, mining and industry
Colombia's economy contracted 0.04% in August, according to the DANE report cited by the outlet. Primary activities, which group agriculture, livestock, fishing and mines and quarries, fell 3.19% year on year, influenced by coffee income and lower oil output, according to ANDI. Secondary activities, including manufacturing and construction, shrank 3.03%. Services grew 1.10%, not enough to offset the declines. Between January and August the Economic Monitoring Indicator accumulated a 2.27% rise.
FinanceColombiaDiario del SurOct 22AI
Colombia prepares the ground to add nuclear energy to its power mix
Colombia has begun preparing the ground to add nuclear energy to its electricity mix, aiming to diversify generation sources and secure firm power. The government is moving forward through a memorandum of understanding with the United States and a working group to build knowledge and capabilities. EPM joined the effort, signing an agreement with the Ministry of Mines and Energy to support the exploration and assess the role of this source in the power system.
FinanceColombiaPulzoOct 22AI
Economy contracts in five regions as national growth nears zero in the third quarter
The Banco de la República's Regional Economic Pulse report estimates that Colombia's economy grew close to zero in the third quarter of 2026, after 3.5% in the second quarter, due to activity declines in five of the seven regions. The Southwest and the Central Coffee region posted the sharpest deteriorations due to the earthquake, high temperatures and wildfires. Housing, agriculture and financial services were the weakest sectors; Bogotá and the Northeast remained in positive territory.
FinanceColombiaRevista SemanaOct 22AI
Forum in Colombia examines El Niño's effects on agricultural output, inflation and energy
The forum “Colombia frente al fenómeno de El Niño” brought together authorities, industry associations, business leaders and experts to analyze the possible effects of the climate event on agricultural production, food security, inflation and the country's energy supply. Participants also discussed the strategies needed to strengthen response capacity and protect Colombia's economic competitiveness.
FinanceColombiaLa RepúblicaOct 22AI