Colombia central bank buys ~US$700M in dollars since early August

Colombia's central bank has purchased nearly US$700 million in dollars since early last month under a newly announced reserve accumulation program, with two dollar purchase auctions already conducted. The program signals a deliberate effort to bolster international reserves, likely to strengthen external buffers amid currency volatility. The scale and pace of accumulation suggest a policy shift toward reserve-building, which could influence USD/COP dynamics and market expectations for further intervention.