Colombian Peso Jumps 3.75% as Right-Wing Candidate Leads First-Round Vote

The Colombian peso surged 3.75% to 3,551 per dollar in early trading on Monday, June 1, 2026, after right-wing businessman Abelardo De La Espriella led the first-round presidential election with 43.7% of the vote. Leftist rival Iván Cepeda secured 40.9%, forcing a runoff on June 21, 2026. De La Espriella’s pro-market platform, including plans to revive the hydrocarbon sector, drew investor approval. Cepeda has pledged radical tax hikes and expanded social spending. “This will be positive for markets—we could see appreciation in public debt, the exchange rate, and equities,” said David Cubides, chief economist at Banco de Occidente, adding that Colombia’s risk premium may benefit from renewed fiscal alignment.