Purchases / Sales of TES and Foreign Currency, and TES Holdings by Banco de la República

  • Banco de la República (the Central Bank of Colombia, BanRep) informs that in January 2024 it made outright sales of TES B in the market for COP 1,033.5 billion (value at market prices). These sales were made in response to the difference between the projections of supply and demand of the monetary base, as well as to help in keeping the Overnight Benchmark Banking Indicator (IBR by its acronym in Spanish) aligned with the monetary policy rate determined by the Board of Directors of the Central Bank.

    At the end of January 2024, the outstanding balance of TES held by BanRep was COP 43,778.7 billion (value at market prices).

    BanRep’s TES B portfolio (expressed in nominal terms) is composed of peso-denominated TES (COP 37,024.7 billion) and UVR-denominated TES (UVR 24.6 billion)..

    In February 2024, none of the TES B held by BanRep expires.

  • Regarding the foreign exchange market, in January 2024, BanRep purchased USD 154.5 million through put options to accumulate foreign reserves.
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