Karachi, January 21, 2026 – The State Bank of Pakistan (SBP) on Wednesday released the daily Karachi Interbank Offered Rates (KIBOR) to facilitate banks, businesses, and financial consumers across the country. KIBOR serves as a key benchmark for pricing loans, deposits, and other financial instruments in Pakistan’s banking system.
According to the latest data issued by the central bank, KIBOR rates on January 21, 2026, showed marginal stability compared to the previous trading day, reflecting cautious market expectations ahead of the upcoming monetary policy announcement.
KIBOR Rates – January 21, 2026
| Tenor | Bid (%) | Offer (%) |
| 1-Week | 10.21 | 10.71 |
| 2-Week | 10.16 | 10.66 |
| 1-Month | 10.09 | 10.59 |
| 3-Month | 10.06 | 10.31 |
| 6-Month | 10.06 | 10.31 |
| 9-Month | 10.04 | 10.54 |
| 1-Year | 10.03 | 10.53 |
KIBOR Rates – January 20, 2026
| Tenor | Bid (%) | Offer (%) |
| 1-Week | 10.21 | 10.71 |
| 2-Week | 10.16 | 10.66 |
| 1-Month | 10.08 | 10.58 |
| 3-Month | 10.05 | 10.30 |
| 6-Month | 10.05 | 10.30 |
| 9-Month | 10.03 | 10.53 |
| 1-Year | 10.02 | 10.52 |
Market analysts consider KIBOR a crucial barometer for assessing liquidity conditions and interest rate expectations. With the SBP scheduled to announce its monetary policy later this month, financial markets are closely monitoring KIBOR movements for signals regarding the future direction of the benchmark interest rate.
Banks, investors, and corporate borrowers are expected to closely track upcoming interest rate signals amid evolving inflation and economic indicators.