Colombia’s Central Bank to Buy US$2B
Colombia's central bank approved on 30 October a direct US$2 billion purchase from the government, on top of a plan to build up to US$4 billion in reserves. The post Colombia’s Central Bank to Buy US$2B appeared first on The Rio Times .
On 30 October 2026, Colombia's Central Bank, Banco de la República (BanRep), announced plans to directly purchase US$2 billion from the national government. This financial move will be conducted via the Finance Ministry's Treasury until the end of the year. The deal's terms will be determined by the market exchange rate on the day of execution, and the acquired dollars will join Colombia's international reserves, which safeguard the peso.
This decision comes on the same day that BanRep maintained its policy rate at 12.25%, following a 4-3 board vote, and one day after President Abelardo De La Espriella's administration filed its Rescue Law in Congress.
The reserve-building plan, initially announced on 31 July 2026, aims to accumulate up to US$4 billion in international reserves through monthly put-option auctions, with the first auction scheduled for 3 August. This additional purchase of US$2 billion solidifies BanRep's efforts to bolster its reserves during a period of high international uncertainty, characterized by high global interest rates and tight financial conditions.
The greater reserve accumulation provides Colombia with more backing, aiding its ability to handle potential external instability.
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