Karachi, July 22, 2025 – The State Bank of Pakistan (SBP) has released the latest Karachi Interbank Offered Rates (KIBOR) for Tuesday, July 22, 2025, showing a largely stable interest rate environment with only marginal changes across a few tenors.
The SBP, which issues daily KIBOR rates to guide interbank lending and borrowing among commercial banks, reported slight movements compared to the rates issued a day earlier. The KIBOR serves as a crucial benchmark for corporate and financial lending in Pakistan’s banking sector.
The comparison between the rates of July 21 and July 22 indicates that most tenors have remained unchanged, with only a minor dip of one basis point in the 1-month and 1-year bid and offer rates. These small fluctuations suggest continued monetary stability, aligning with the SBP’s policy stance aimed at maintaining liquidity and supporting business confidence.
Below is the detailed comparison of KIBOR rates issued by the SBP for July 21 and July 22, 2025:
| Tenor | Bid (Jul 22) | Offer (Jul 22) | Bid (Jul 21) | Offer (Jul 21) |
| 1 – Week | 10.92% | 11.42% | 10.92% | 11.42% |
| 2 – Week | 10.91% | 11.41% | 10.91% | 11.41% |
| 1 – Month | 10.85% | 11.35% | 10.86% | 11.36% |
| 3 – Month | 10.81% | 11.06% | 10.81% | 11.06% |
| 6 – Month | 10.76% | 11.01% | 10.76% | 11.01% |
| 9 – Month | 10.71% | 11.21% | 10.71% | 11.21% |
| 1 – Year | 10.65% | 11.15% | 10.66% | 11.16% |
The steady KIBOR rates reflect confidence in Pakistan’s financial markets, particularly following recent monetary policy decisions by the SBP. Market participants often use these rates to determine borrowing costs for credit lines, working capital, and long-term financing.
Going forward, banks and borrowers alike will continue to monitor SBP updates on KIBOR trends for insights into potential shifts in interest rate expectations and market liquidity conditions.