(MENAFN- The Rio Times) Colombia's peso hovered near 3,922 per dollar on Wednesday morning, modestly stronger as a softer U.S. dollar rippled across emerging markets.

The dollar index sat just under 99 after investors bet the Federal Reserve is edging toward rate cuts and a wind-down of quantitative tightening.

That global breeze helped the peso even as cheaper oil-normally a drag for Colombia-kept a lid on gains. For settlements, the market uses today's official TRM around 3,933.

Equities kept climbing. The MSCI Colcap rose 1.15% on Tuesday to 1,891.64, with roughly COP 138 billion changing hands, nudging multi-year highs.

The“story behind the story” is a friendlier mix of external and domestic signals: a weaker dollar that makes risk assets easier to own; still-attractive local carry with real rates positive; and a finance-ministry liability swap last week that loosened public-debt plumbing and reassured local desks about liquidity.



Offshore vehicles reflected thin but constructive interest-gains were steadier on the ground in Bogotá than in U.S. Colombia ETFs, where volumes remain light.
Winners And Losers (Oct 14 close)
Winners: Grupo Nutresa +6.35%, Mineros +1.95%, Grupo Aval Pref +1.44%, Grupo Cibest +1.33%, Suramericana +1.31%.

Losers: Cementos Argos −3.63%, Bancolombia Pref −2.57%, Canacol Energy −2.26%, Ecopetrol −1.42%, ISA −1.21%.
Why It Moved
Global: Fed-dovish rhetoric undercut the dollar and buoyed EM assets. Counterforce: Brent near the low-$60s reminded traders that Colombia's terms of trade are wobbling, tempering enthusiasm for energy names.

Local: High nominal rates continue to anchor peso demand; the recent TES swap reduced near-term funding frictions, supporting sentiment across banks and staples.


What The Tape Says Now
USD/COP is probing resistance at 3,925–3,940; a push through 3,966 would signal more upside, while 3,900/3,897 remains first support. The Colcap's trend is constructive above 1,875–1,868; a clean break over ~1,903 would put 1,920s on the map.
What To Watch
Whether U.S. data keep the dollar on the back foot; oil inventories after surplus warnings; and if local flows can carry the Colcap through resistance while USD/COP stays below 3,940. The near-term balance: global dollar softness favors Colombia, but oil weakness keeps investors honest.

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