Finance

Cali seeks to revive its economy with 126 events a year and a projected benefit of COP 875 billion
Cali's Mayor's Office announced the city's Economic and Mood Reactivation Plan, aimed at attracting large shows and strengthening business activity through a permanent events schedule. The project, coordinated by Billboard Colombia, envisions 126 events a year, an estimated economic benefit of COP 875 billion and attendance of at least 530,000 people. The schedule includes six stadium events, 20 in arenas and 100 in theaters and outdoor venues. Corfecali will act as liaison between promoters and the local government.
FinanceColombiaEl País (Cali)Oct 28AI
Camacol says it has 1,400 housing projects worth $98 billion ready in Colombia
Builders grouped in Camacol said the sector has 1,400 housing projects ready across Colombia, with an investment of $98 billion for 257,000 homes and the possibility of generating hundreds of direct and indirect jobs. The text notes that construction has a multiplier effect on 36 subsectors and that, to launch the projects, better financing for families, new land, urban renewal and simpler procedures are needed, with coordination between the national government and the territories.
FinanceColombiaEl País (Cali)Oct 28AI
Enka to invest more than US$15 million in its third bottle-to-bottle PET recycling plant
Enka approved investments of more than US$15 million, financed with its own resources, to build its third bottle-to-bottle PET recycling plant and produce EKO PET resin. The phased project will reach a capacity of 60,000 tons per year and will take about two years to start operating. Its president, Álvaro Hincapié Vélez, said the initiative aims to anticipate the targets of Colombia's Single-Use Plastics Law. Green businesses already generate about 73% of the company's revenue.
FinanceColombiaEl ColombianoOct 28AI
Ministry of Environment presents blue economy as the ABC Agenda's bet for territorial development
At the Second Colombian Bioeconomy Week in Barranquilla, the Ministry of Environment and Sustainable Development presented the blue economy as one of the strategic bets of the ABC Agenda (Water, Biodiversity and Communities). Minister Fabio Arjona said conserving can also mean producing. Mangroves store about 462 million tons of CO2 equivalent and Caribbean marine soils 52 million, according to estimates in five areas of the country.
FinanceColombiaDiario del SurOct 28AI
Dollar and interest rates remain in focus for Colombian markets
Currency movements and monetary policy decisions remain important factors for Colombia's economy. On October 28, 2026, the market representative rate for the dollar stood at $3,148.02, a negative variation of $9.92, according to the economic outlet La República. Markets continue to watch decisions by major central banks and their potential effects on trade, investment and financing costs.
FinanceColombiaDiario del SurOct 28AI
Dollar closed at COP 3,130 on October 26, below Friday's close
The dollar closed on Monday, October 26, at COP 3,130, about COP 15 below Friday's close (COP 3,145) and COP 25 below the start of the session. The TRM calculated by the Financial Superintendency is COP 3,158.43, COP 700.2 less than the same date last year and COP 148.43 less than a month ago. Prices ranged between COP 3,130 and COP 3,179, with an average of COP 3,157.
FinanceColombiaDiario del SurOct 28AI
Dollar closed at 3,162 pesos, up 14.46 pesos from the TRM
The dollar closed the trading session in Colombia at 3,162 pesos, an increase of 14.46 pesos from the TRM of 3,148, according to Revista Semana. The currency opened at 3,145 and reached a high of 3,172, with an average trading price of 3,151 and US$1.051 billion traded in 1,463 transactions. The move was influenced by the Federal Reserve's decision to keep rates in the 3.75% to 4% range, a 1.26% rise in Brent oil to US$115.32 and expectations ahead of the Banco de la República meeting.
FinanceColombiaRevista SemanaOct 28AI
Cali bets on music and major events to revive its economy after the earthquake
Cali is seeking to revive its economy and cultural life with a plan centered on the music industry and live entertainment, with support from Billboard Colombia. The initiative, presented on October 28 in Bogotá with representatives of the National Government, the Mayor's Office and entertainment executives, envisions an annual schedule of 126 events and an economic impact of about 875,000 million pesos a year, with at least 530,000 attendees. Mayor Alejandro Eder linked the project to recovery after the August 10 earthquake.
FinanceColombiaBlu RadioOct 28AI
Dollar closed at 3,163.05 pesos on October 28, 2026, up 18.05 pesos from the opening
The dollar opened this Wednesday, October 28, 2026, at 3,145.000 pesos and closed at 3,163.050 pesos, an increase of 18.05 pesos from the opening, according to the Banco de la República monitoring cited by Noticias RCN. The Market Average Rate reached 3,162.481 pesos and the Representative Market Rate was 3,148.02 pesos, its lowest level in more than a month. Since Friday, October 23, the TRM has not reached 3,200 pesos.
FinanceColombiaNoticias RCNOct 28AI
Crypto in Colombia: US$29.1 billion in a year and regulation still pending
Colombia recorded US$29.1 billion in crypto asset activity between July 2025 and June 2026 and consolidated as the fifth-largest market in Latin America, growing 13.8% versus 9.8% regionally. The country still lacks comprehensive legislation: bill 510 of 2025 was shelved in 2026 without clearing its second debate. Colombia Fintech presented a report with six proposals, including a regulatory framework for virtual asset service providers and a public registry of these companies.
FinanceColombiaRevista SemanaOct 28AI
Dollar in Colombia rises and trades above the TRM
The dollar trades around COP 3,152.02 in Colombia, about four pesos above the TRM set at COP 3,148.02 for Wednesday, October 28, according to La República data cited by Diario del Sur. The text notes that the TRM is the official reference while the trading price varies with transactions, so the final value may differ between banks and exchange houses. Markets remain attentive to geopolitical tensions, oil prices and US monetary policy.
FinanceColombiaDiario del SurOct 28AI
Colombia's dollar TRM fell to 3,148.02 pesos on Wednesday
Colombia's dollar TRM stood at 3,148.02 pesos on October 28, 2026, a drop of 9.92 pesos from the previous day. In early trading the dollar opened around 3,145 pesos, below the official reference, and briefly rose above it in the first minutes of trading. The market was watching the U.S. Federal Reserve's decision on interest rates.
FinanceColombiaDiario del SurOct 28AI
Analysts expect Banco de la República rate to rise to 12.50% in October
Most analysts surveyed by ANIF expect Banco de la República to raise its interest rate by 25 basis points in October to 12.50%. The survey, conducted between October 13 and 16, shows 13 of the 19 entities consulted (68.4%) anticipate the increase, while six (31.6%) expect it to stay at 12.25%. The backdrop is annual inflation of 6.29% in September, 2.29 points above the upper limit of the 4% target range.
FinanceColombiaLa FMOct 28AI
Colombian peso opens weaker as dollar rises to 3,171.02 ahead of Fed decision
The dollar in Colombia (USDCOP) opened higher on Wednesday at 3,171.02 pesos, a gain of about 21.87 pesos from Tuesday's close, equivalent to 0.69%. The rate sits 23 pesos above the TRM of 3,148.02 and approached 3,175 in early trading, on a day marked by the Federal Reserve's rate decision, with the market expecting rates to be held between 3.75% and 4.00%.
FinanceColombiaXTB.comOct 28AI
Late-payment interest, penalty clauses and damages: when Colombian law allows collecting them together
Banco de la República reported that Colombian households' obligations reached 384.1 trillion pesos at the end of 2025, a 3.2% real annual increase, and estimated household debt at 424 trillion pesos as of March 2026, of which 17% corresponded to entities not supervised by the Financial Superintendency. Amid rising household debt, a legal analysis reviews when a creditor may claim principal, late-payment interest, a penalty clause and damages for the same breach.
FinanceColombiaDiario del SurOct 28AI
Dollar opens at COP 3,161 in Colombia, COP 13 above the TRM
The dollar in Colombia began Wednesday's session at an average of COP 3,161, an increase of COP 13 compared with the TRM of COP 3,148.02. The currency opened higher amid expectations for the Federal Reserve's rate decision and inflationary pressures from rising energy prices. Corficolombiana said inflation remains high due to oil prices and could face new pressures from the onset of the El Niño phenomenon.
FinanceColombiaELHERALDO.COOct 28AI
Dollar rises 0.34% at the open and trades at an average of COP 3,154
The dollar posts a slight gain at the start of the session on Wednesday, October 28. According to the Colombian Stock Exchange, at 9 a.m. the currency was up 0.34%, with an average price of COP 3,154, while the TRM stood at COP 3,158, that is, COP 10 higher. The last trading price was COP 3,165. The market awaits the Federal Reserve's rate decision amid inflationary pressures and with oil above USD 115 per barrel.
FinanceColombiaEl País (Cali)Oct 28AI
Dollar opens in Colombia with a TRM of COP 3,148.02, down COP 9.92 from the previous report
For Wednesday, October 28, 2026, the U.S. dollar starts the day in Colombia with a Representative Market Rate of COP 3,148.02, according to the Banco de la República, a drop of COP 9.92 from the October 27 report. The euro trades at COP 3,497.19, up COP 11.41 (0.33%), and the Canadian dollar at COP 2,238.30, up COP 8.14 (0.37%). Brent crude opened at USD 111.47 and Bitcoin at USD 80,813.
FinanceColombiaCaracol RadioOct 28AI
Dollar opens at 3,145 pesos and trades higher ahead of Fed decision
The dollar opened the session at 3,145 pesos and in the first minutes hit a low of 3,145 and a high of 3,155, averaging 3,151.87, a slight upward move against the current TRM of 3,148.02 pesos. Traders expect the Federal Reserve to keep rates in the 3.75% to 4% range, while in Colombia attention is on the Banco de la República board meeting and the filing of the economic rescue bill.
FinanceColombiaRevista SemanaOct 28AI
What the nominal exchange rate is and how it affects the peso against the dollar
The nominal exchange rate indicates how many Colombian pesos are needed to buy one dollar and is a key reference for the Colombian economy. When it rises, the peso depreciates and imports become more expensive; when it falls, the peso appreciates, imported goods become cheaper and exporters lose competitiveness. Official tracking is done through the TRM, the arithmetic average of the weighted buy and sell rates for dollars of authorized financial institutions, which according to the information consulted stands at 3,148.02 pesos per dollar.
FinanceColombiaPulzoOct 28AI