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USD/COP traded near 3,205 on July 28, a level last seen in July 2019, after a roughly 16% decline in about ten weeks from its May high. The Banco de la República had raised its policy rate to 12.00% on July 1, its third hike of the cycle, and the pair's descent has been orderly.
The article argues that Colombian inflation is driven more by energy prices than the market assumes.
Carry-driven peso strength tied to high Colombian rates reflects capital flows rather than feed supply or demand. Price impact on feed commodities is minimal, though a firmer peso can reduce local import costs for Colombian feed buyers.
fxstreet.comMauricio CarrilloJul 28, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
