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.
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.
The TRM for Wednesday, October 28, 2026, stood at 3,148.02 pesos, down 9.92 pesos from Tuesday and 0.31% on the day, its lowest level since September 17. The dollar opened the session at 3,145 pesos, 3.02 pesos below the official rate, and rebounded about four pesos above the TRM in early trading. So far in 2026 the TRM has fallen 609.06 pesos, or 16.21%.
The dollar opened trading in Colombia at COP 3,145, a difference of COP 3.02 from the day's TRM of COP 3,148.02, and rose COP 4 against that reference in the first minutes of trading. The market expects the Federal Reserve to hold rates at 4% at its Wednesday meeting, amid elevated inflation driven by oil and possible pressures from the El Niño phenomenon, according to Mauricio Acevedo of Corficolombiana.
The dollar closed Tuesday at COP 3,147.40, after falling to COP 3,130 on Monday the 26th and closing at COP 3,145 on Friday the 23rd. Analyst Diego Sogamoso noted the currency trades below its 50-day moving average, near COP 3,173. Among external factors, US consumer confidence rose to 91.7 in October and the Fed decides on rates on October 28. Domestically, the government is selling dollar bonds and Banrep sets its rate on Friday the 30th.
Finmaq, a Colombian fintech that finances machinery and equipment for MSMEs, closed a US$6.5 million Series A round led by Accion, with participation from Mundi Ventures and existing investors Alive Ventures and 30N Ventures. The company has placed more than US$100 million and holds an active portfolio of close to COP 200 billion. It aims to surpass US$200 million in placements and reach 5,000 active clients in 18 months. It operates only in Colombia and its main recent challenge is fraud attempts.
The reshaping of political relations in Latin America poses opportunities and challenges for Colombia's economy and affects the country's foreign trade. According to the analysis, Colombia seeks to consolidate markets in the Pacific Alliance and the Andean Community, revive trade with Venezuela and strengthen commercial ties with Brazil and Mexico to diversify its export offering beyond hydrocarbons. The success of this commercial diplomacy depends on institutional stability and on resolving tariff and logistics barriers.
Law 278 of 1996 requires the government to negotiate the minimum wage with employers and workers in a tripartite commission, but not to reach an agreement: if there is no consensus, the increase is set by decree. Between 2001 and 2026 the commission reached agreement in nine of 26 negotiations, and in the remaining 17, including the last three years, the government decided. The increase will take effect on January 1, 2027 and will affect about 2.4 million Colombians.
Colombia's representative market rate (TRM) stood at 3,148.02 pesos per dollar this Wednesday, October 28, down from 3,157.94 the previous day, a decrease of 9.92 pesos. The TRM serves as a reference for numerous economic transactions, although financial institutions and exchange houses do not buy or sell dollars at exactly that price: rates vary by city, establishment, amount and service costs.
According to the International Energy Agency, global coal demand rose from 7,888 million tonnes in 2021 to 8,845 million tonnes in 2025. The text argues that if Colombia does not extract and export coal, its competitors will, and cites the closure of Prodeco's two mines in Cesar, after which 15 million tonnes a year stopped being produced and exported. It adds that the previous government's policies discouraged extractive activity and the sector's share of GDP fell from 4% to 3.5%.
Bre-B, the Banco de la República's instant payment system, marked one year on October 6 and connected cooperatives such as Cootregua, in Guainía, with banks and digital wallets. In its first year it processed more than 1.7 billion transfers worth over 262 trillion pesos, with 36 million users holding at least one registered key. Connected cooperatives rose from 81 at launch to 172 at the end of September.
Lawyers from Brigard Urrutia analyzed the role of digital assets in financial markets. According to Chainalysis' Global Crypto Adoption Index published in September 2026, economic activity tied to these assets reached US$9.4 trillion annually as of June 2026, despite a drop in market capitalization and price volatility. In Colombia, flows reach US$29.1 billion and retail transfers under US$100 grew 78.4%. They see opportunities in payments, remittances and tokenization.
Colombia's current monthly legal minimum wage for 2026 is 1,750,905 pesos excluding transport allowance, according to Decree 1469 of 2025. For that pay to reach 2,000,000 pesos in 2027 it would have to increase by 249,095 pesos, or 14.23%, in a hypothetical scenario rather than an approved percentage. The adjustment debate takes place with annual inflation at 6.29% in September 2026 and under the framework of Law 278 of 1996.
Users reported failures in Nequi since the afternoon of Tuesday, October 27. According to Downdetector, reports increased around 4:50 p.m., with a peak of about 450. Some 53% were app problems, 45% were login difficulties and 1% involved QR codes. In a check at 5:25 p.m., partial interruptions were listed for app login, money transfers between Nequi and Bancolombia, ATM and correspondent withdrawals, and QR payments.
Nequi told its users that its app is experiencing intermittent failures on the afternoon of Tuesday, October 27, and that its team is working to fix them. The digital wallet warned that users may have trouble logging in or carrying out transactions from their phones. The company did not detail which specific functions are failing or how long a fix might take. Nequi sent a message of reassurance and said users' money and information are safe.
Colombian companies, public entities and universities were recognized at the 2026 Zero Waste Awards for their progress in circular economy and waste management, during the 2026 Zero Waste Summit organized by Global Zero Waste. The distinctions were divided into four categories (Platinum, Gold, Silver and Bronze) according to the level of progress in certification under the International Zero Waste Management System Standard. According to DANE figures cited by Global Zero Waste, the circular economy represents 1.53% of Colombia's GDP, equivalent to COP 26.05 trillion.
ANIF president José Ignacio López warned at the FGA's 'El crédito que mueve a Colombia' forum that inflation could close 2026 at 6.6%, with upward biases of up to 6.8%. He attributed the inertia to services driven by the minimum wage increase and to pressures on regulated items such as utilities and food due to El Niño. He called for caution in the 2027 minimum wage negotiation so those shocks do not become permanent.
Anyone opening a CDT in Colombia today can get rates above 13%, while inflation stands at 6.29%, implying a real return of more than 6%. Omar Casas, general manager of MejorCDT, told La FM that the country is in a high-rate moment and it is unclear how long it will last, though rates will not stay high "forever." He also recommended verifying that the institution is supervised by the Financial Superintendency, covered by Fogafín and rated A or higher.
The board of Colombia's Banco de la República meets this Friday, October 30, to decide on the interest rate, which stands at 12.25%. According to the ANIF survey, 13 of the 19 analysts consulted expect a 25 basis point increase, which would leave the rate at 12.50%, while six expect it to stay unchanged. The decision comes with inflation above 6.3%, far from the 3% target.
Airline tickets in Colombia cost 18.29% more than in September 2025, according to price behavior figures. Between August and September 2026 they rose 12.25%, and the cumulative increase in the first nine months of the year reached 11.44%, against general inflation of 5.74% in the same period. The increase affects those traveling for work, family or tourism and forces budgets to be adjusted.
