Karachi, March 10, 2026 – The State Bank of Pakistan (SBP) on Tuesday released the latest Karachi Interbank Offered Rates (KIBOR) to guide banks, financial institutions, and corporate borrowers in Pakistan’s money market.
The KIBOR is a key benchmark interest rate used by banks for lending to each other and is widely used for pricing corporate loans, trade finance, and floating-rate lending facilities across the country.
According to the SBP data, most tenors recorded slight declines on March 10 compared with the previous day, indicating marginal easing in short-term interbank borrowing costs.
Below is a comparison of KIBOR rates for March 10, 2026 and March 9, 2026.
KIBOR Rates – March 10, 2026
| Tenor | Bid (%) | Offer (%) |
| 1 Week | 10.39 | 10.89 |
| 2 Week | 10.39 | 10.89 |
| 1 Month | 10.42 | 10.92 |
| 3 Month | 10.53 | 10.78 |
| 6 Month | 10.64 | 10.89 |
| 9 Month | 10.85 | 11.35 |
| 1 Year | 10.89 | 11.39 |
KIBOR Rates – March 9, 2026
| Tenor | Bid (%) | Offer (%) |
| 1 Week | 10.44 | 10.94 |
| 2 Week | 10.44 | 10.94 |
| 1 Month | 10.48 | 10.98 |
| 3 Month | 10.56 | 10.81 |
| 6 Month | 10.64 | 10.89 |
| 9 Month | 10.84 | 11.34 |
| 1 Year | 10.90 | 11.40 |
KIBOR rate analysis
A comparison of the two sessions shows minor declines in most short-term tenors, particularly the one-week, two-week, and one-month maturities, which fell by around 5 to 6 basis points.
The three-month KIBOR, commonly used as a benchmark for many commercial loans in Pakistan, also edged lower. Meanwhile, six-month rates remained unchanged, suggesting relative stability in medium-term funding costs.
Slight fluctuations in nine-month and one-year tenors indicate marginal adjustments in market expectations regarding liquidity and interest rate outlook.
Financial analysts often track KIBOR trends closely as they reflect interbank liquidity conditions and monetary policy expectations influenced by the State Bank of Pakistan.
What is KIBOR?
The Karachi Interbank Offered Rate (KIBOR) represents the average interest rate at which major banks in Pakistan lend unsecured funds to one another in the interbank market. It serves as a benchmark reference rate for lending and financial contracts across the banking sector.
Disclaimer:
KIBOR rates are indicative interbank benchmark rates released for market guidance. Actual borrowing or lending rates may vary depending on financial institutions, credit risk, and transaction terms.