# The Colombian peso appreciated 3.6% in October, driven by higher oil prices

> The Colombian peso gained 3.6% against the dollar in October, moving the rate from COP 3,307 to COP 3,194. Banco de Bogotá attributed the move to expected Finance Ministry dollar sales and higher oil prices tied to Middle East tensions, Houthi attacks on Saudi oil infrastructure and Strait of Hormuz disruptions.

- Date: 2026-11-04 · published 2026-11-05T00:11:09.952Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/80717-the-colombian-peso-appreciated-3-6-in-october-driven-by-higher-oil-prices
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger peso lowers the local cost of imported feed and reduces inflation pressure, but it cuts peso revenue from oil exports, and the peso's tie to crude makes it sensitive to Gulf supply shocks.

## Read by commodity

- WTI: bullish ▲
- USDCOP: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-01-13 | [Colombia peso boosted by weak dollar and rising oil prices - Colombia News](https://feedsoft.ai/events/67263-colombia-peso-boosted-by-weak-dollar-and-rising-oil-prices-colombia-news.md) | -1.0% | -7.6% |
| WTI | 2026-10-20 | [Canadian dollar outlook: oil prices and Fed signals drive the loonie By Investing.com](https://feedsoft.ai/events/17267-canadian-dollar-outlook-oil-prices-and-fed-signals-drive-the-loonie-by.md) | -0.2% | — |
| WTI | 2023-08-20 | [Colombian Peso makes the Strongest Recovery in the World in 2023](https://feedsoft.ai/events/34862-colombian-peso-makes-the-strongest-recovery-in-the-world-in-2023.md) | -1.2% | +12.6% |
| WTI | 2021-05-31 | [CAD boosted by jump in oil prices - OFX (CA)](https://feedsoft.ai/events/47335-cad-boosted-by-jump-in-oil-prices-ofx-ca.md) | +4.4% | +10.0% |
| WTI | 2023-07-31 | [Goldman Sachs: China Is The Biggest Driver Of The Oil Price Rally \| OilPrice.com](https://feedsoft.ai/events/35217-goldman-sachs-china-is-the-biggest-driver-of-the-oil-price-rally-oilprice-com.md) | +2.8% | -0.4% |

## Sources

- iarepublica.com: https://iarepublica.com/co/noticia/el-peso-colombiano-se-aprecio-3-6-en-octubre-impulsado-por-el-alza-del-petroleo-84446c25

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.