KARACHI: State Bank of Pakistan (SBP) on Friday issued the Karachi Interbank Offered Rates (KIBOR) as on November 10, 2023.
Following are the latest KIBOR rates:
| Tenor | Bid | Offer |
| 1 – Week | 21.61 | 22.11 |
| 2 – Week | 21.56 | 22.06 |
| 1 – Month | 21.53 | 22.03 |
| 3 – Month | 21.36 | 21.61 |
| 6 – Month | 21.44 | 21.69 |
| 9 – Month | 21.48 | 21.98 |
| 1 – Year | 21.50 | 22.00 |
The Karachi Interbank Offered Rate (KIBOR) is the primary benchmark interest rate used by Pakistan’s banking sector to determine the pricing of floating-rate loans, trade finance facilities, and other variable-rate financial products.
It represents the average rates at which commercial banks are willing to lend unsecured funds to one another in the interbank market across different maturities. KIBOR is closely monitored by businesses, financial institutions, and investors because it reflects prevailing liquidity conditions and expectations regarding the State Bank of Pakistan’s monetary policy. Changes in KIBOR directly affect the borrowing costs of corporate and commercial clients, influencing financing decisions and overall business activity. Higher KIBOR levels generally result in increased debt servicing costs, while lower rates can encourage borrowing and investment.
The benchmark also serves as an important indicator of inflation expectations, market liquidity, and the broader interest rate environment in Pakistan’s financial system.