Karachi, February 16, 2026 – The State Bank of Pakistan (SBP) on Monday released the daily Karachi Interbank Offered Rates (KIBOR) for various tenors to facilitate banks, corporate borrowers, investors, and consumers in making informed financial decisions.
KIBOR is the benchmark interest rate at which banks lend unsecured funds to one another in the interbank market. It plays a crucial role in pricing a wide range of financial products, including loans, mortgages, corporate financing, and government securities. Daily updates in KIBOR help ensure transparency and efficiency in Pakistan’s financial markets.
According to SBP, the latest KIBOR rates show slight movements across most maturities, reflecting ongoing liquidity conditions, monetary policy expectations, and market demand-supply dynamics.
KIBOR Rates – February 16, 2026
| Tenor | Bid (%) | Offer (%) |
| 1 – Week | 10.26 | 10.76 |
| 2 – Week | 10.26 | 10.76 |
| 1 – Month | 10.25 | 10.75 |
| 3 – Month | 10.29 | 10.54 |
| 6 – Month | 10.31 | 10.56 |
| 9 – Month | 10.31 | 10.81 |
| 1 – Year | 10.34 | 10.84 |
KIBOR Rates – February 13, 2026
| Tenor | Bid (%) | Offer (%) |
| 1 – Week | 10.25 | 10.75 |
| 2 – Week | 10.25 | 10.75 |
| 1 – Month | 10.25 | 10.75 |
| 3 – Month | 10.26 | 10.51 |
| 6 – Month | 10.28 | 10.53 |
| 9 – Month | 10.28 | 10.78 |
| 1 – Year | 10.29 | 10.79 |
Comparison and Market Trend
A comparison of the two trading days indicates marginal increases in KIBOR across most tenors, particularly in the medium- to long-term maturities. The one-year KIBOR bid rate rose to 10.34 percent from 10.29 percent, while the nine-month bid edged up to 10.31 percent from 10.28 percent, reflecting cautious sentiment in the money market.
Market participants attribute these slight upward movements to liquidity management operations, inflation expectations, and prevailing monetary policy outlook. Analysts believe that daily fluctuations in KIBOR provide key signals for banks and businesses in planning their short-term and long-term borrowing strategies.
Importance of KIBOR for Consumers and Businesses
KIBOR serves as a primary benchmark for lending rates in Pakistan. Changes in KIBOR directly influence:
• Corporate and SME financing costs
• Home and auto loans
• Working capital requirements
• Pricing of government and corporate debt instruments
SBP’s regular publication of KIBOR enhances market transparency, pricing efficiency, and financial stability, ensuring that stakeholders remain informed about prevailing money market conditions.
The central bank is expected to continue closely monitoring market developments and liquidity conditions to support sustainable economic growth while maintaining price stability.