Karachi, August 29, 2025 – The State Bank of Pakistan (SBP) on Friday announced the latest KIBOR rates, reflecting interbank lending trends across various tenors. The Karachi Interbank Offered Rate (KIBOR) serves as a key benchmark for determining lending rates in Pakistan’s financial markets.
The updated KIBOR data shows slight adjustments compared to the previous session, with most short-term and medium-term tenors witnessing marginal variations. These rates are closely tracked by banks, corporate entities, and investors as they influence borrowing costs and future monetary policy expectations.
Below is a comparison of KIBOR rates for August 29 and August 28, 2025:
August 29, 2025
| Tenor | Bid | Offer |
| 1-Week | 10.84 | 11.34 |
| 2-Week | 10.79 | 11.29 |
| 1-Month | 10.76 | 11.26 |
| 3-Month | 10.78 | 11.03 |
| 6-Month | 10.78 | 11.03 |
| 9-Month | 10.76 | 11.26 |
| 1-Year | 10.77 | 11.27 |
August 28, 2025
| Tenor | Bid | Offer |
| 1-Week | 10.84 | 11.34 |
| 2-Week | 10.79 | 11.29 |
| 1-Month | 10.77 | 11.27 |
| 3-Month | 10.79 | 11.04 |
| 6-Month | 10.78 | 11.03 |
| 9-Month | 10.75 | 11.25 |
| 1-Year | 10.76 | 11.26 |
Analysts believe these figures indicate a stable interbank market, with minimal shifts in lending benchmarks.
The marginal changes in KIBOR rates reflect a largely stable interbank lending environment. Analysts suggest that the absence of significant fluctuations indicates that liquidity conditions remain balanced, and no immediate monetary tightening or easing is anticipated from the State Bank of Pakistan.
Short-term tenors, such as the one-week and two-week KIBOR, held steady, showing confidence in near-term stability. Minor shifts in longer tenors, such as nine-month and one-year rates, signal cautious optimism regarding inflation and interest rate outlooks in the coming quarters.
Financial institutions, particularly banks and corporate borrowers, will closely watch upcoming economic data and SBP’s policy announcements to assess whether these rates could move upward in response to inflationary trends or external financing pressures.