KARACHI: The State Bank of Pakistan (SBP) has issued the latest Karachi Interbank Offered Rates (KIBOR) on November 15, 2023, providing crucial insights into the current interest rate environment in the financial market.
Here are the latest KIBOR rates for various tenors:
1. One-Week (1-Week):
• Bid: 21.58%
• Offer: 22.08%
2. Two-Week (2-Week):
• Bid: 21.61%
• Offer: 22.11%
3. One-Month (1-Month):
• Bid: 21.59%
• Offer: 22.09%
4. Three-Month (3-Month):
• Bid: 21.41%
• Offer: 21.66%
5. Six-Month (6-Month):
• Bid: 21.45%
• Offer: 21.71%
6. One-Year (1-Year):
• Bid: 21.44%
• Offer: 21.94%
KIBOR serves as a benchmark interest rate that reflects the average borrowing rates at which banks can lend unsecured funds to each other in the Karachi interbank market. These rates are essential for financial institutions, businesses, and investors to make informed decisions regarding lending, borrowing, and investment activities.
The one-week tenor exhibits a bid rate of 21.58% and an offer rate of 22.08%. Similarly, the two-week and one-month tenors follow with bid and offer rates of 21.61% and 22.11%, and 21.59% and 22.09%, respectively.
Moving on to the three-month tenor, the bid rate is reported at 21.41%, with an offer rate of 21.66%. The six-month tenor shows a bid rate of 21.45% and an offer rate of 21.71%. Finally, the one-year tenor records a bid rate of 21.44% and an offer rate of 21.94%.
The KIBOR rates play a pivotal role in shaping the interest rate landscape, influencing the cost of borrowing for businesses and individuals. Financial institutions use these rates as a reference to determine lending and deposit rates, affecting the overall liquidity and economic activity in the market.
The consistency and transparency in reporting KIBOR rates by the State Bank of Pakistan contribute to the stability and efficiency of the financial market. These rates are closely monitored by market participants, policymakers, and analysts to gauge the prevailing economic conditions and anticipate potential changes in monetary policy.
It is crucial for stakeholders to stay informed about the latest KIBOR rates, as they serve as a barometer for the health of the financial system and can impact borrowing costs and investment decisions. The SBP’s regular updates on KIBOR rates provide valuable information for market participants to make well-informed financial choices in a dynamic economic environment.
