Karachi, January 26, 2026 – The State Bank of Pakistan (SBP) has published the daily Karachi Interbank Offered Rate (KIBOR) for Monday, January 26, 2026. The latest rates show a slight decline across all tenors compared to the previous working day, January 23, 2026, indicating easing conditions in the interbank money market.
KIBOR is a benchmark rate used by banks to price corporate loans, consumer financing, and other variable-rate lending instruments in Pakistan.
KIBOR rates – January 26, 2026
| Tenor | Bid (%) | Offer (%) |
| 1-Week | 10.08 | 10.58 |
| 2-Week | 10.04 | 10.54 |
| 1-Month | 10.00 | 10.50 |
| 3-Month | 9.93 | 10.18 |
| 6-Month | 9.93 | 10.18 |
| 9-Month | 9.92 | 10.42 |
| 1-Year | 9.91 | 10.41 |
KIBOR rates – January 23, 2026
| Tenor | Bid (%) | Offer (%) |
| 1-Week | 10.14 | 10.64 |
| 2-Week | 10.09 | 10.59 |
| 1-Month | 10.03 | 10.53 |
| 3-Month | 9.96 | 10.21 |
| 6-Month | 9.96 | 10.21 |
| 9-Month | 9.94 | 10.44 |
| 1-Year | 9.93 | 10.43 |
KIBOR trend analysis
A comparison of the two sessions shows that KIBOR declined by 2 to 6 basis points across all tenors on January 26, 2026. The most notable drop was seen in the 1-week and 2-week tenors, reflecting improved short-term liquidity in the banking system.
Market experts say the easing trend is consistent with expectations after the SBP kept the policy rate unchanged at 10.5%, while interbank liquidity remained comfortable.