Karachi, August 22, 2025 – The State Bank of Pakistan (SBP) issued Karachi Interbank Offered Rates (KIBOR) for Friday, August 22, 2025, showing slight adjustments across various tenors compared to the previous day.
These benchmark rates are used to determine borrowing costs for commercial banks and corporate lending.
August 22, 2025
| Tenor | Bid | Offer |
| 1-Week | 10.83 | 11.33 |
| 2-Week | 10.83 | 11.33 |
| 1-Month | 10.79 | 11.29 |
| 3-Month | 10.78 | 11.03 |
| 6-Month | 10.79 | 11.04 |
| 9-Month | 10.76 | 11.26 |
| 1-Year | 10.77 | 11.27 |
August 21, 2025
| Tenor | Bid | Offer |
| 1-Week | 10.85 | 11.35 |
| 2-Week | 10.83 | 11.33 |
| 1-Month | 10.78 | 11.28 |
| 3-Month | 10.79 | 11.04 |
| 6-Month | 10.79 | 11.04 |
| 9-Month | 10.76 | 11.26 |
| 1-Year | 10.76 | 11.26 |
Market Analysis
The comparison shows a slight drop in the 1-week tenor, falling by 2 basis points to 10.83%, signaling lower short-term borrowing costs. The 1-month tenor edged up marginally, reflecting minor liquidity adjustments. The 1-year tenor increased to 10.77% from 10.76%, hinting at a slightly higher cost for longer-term borrowing. Analysts believe rates will stay range-bound unless major monetary policy changes occur.
Forecast for Next Week’s KIBOR Trend
Analysts expect KIBOR rates to remain mostly stable next week, with minor fluctuations of 1–3 basis points across short-term tenors. Market sentiment suggests the 1-week and 1-month rates may continue to soften slightly if liquidity improves due to foreign inflows and steady rupee performance in the interbank market.
For medium- to long-term tenors, including 6-month and 1-year rates, borrowing costs are likely to stay firm unless there is a clear signal from the State Bank of Pakistan (SBP) regarding monetary policy adjustments. Any unexpected inflationary pressures or global oil price hikes could add upward pressure to longer-term rates.