Karachi, July 21, 2025 – The State Bank of Pakistan (SBP) has officially released the latest Karachi Interbank Offered Rates (KIBOR) for Monday, July 21, 2025.
These KIBOR rates are a critical benchmark used by banks in Pakistan to determine the lending cost for corporate and commercial loans across different tenors. They also provide insight into prevailing market sentiments regarding interest rate movements and liquidity conditions.
According to the SBP, the KIBOR rates serve as indicative interbank lending rates and are closely watched by financial institutions, businesses, and investors alike. The comparison of KIBOR rates for July 21, 2025, with the previous working day (July 18, 2025), shows minor fluctuations across various tenors, reflecting stable interbank borrowing trends.
KIBOR Rates Comparison: July 21 vs July 18, 2025
| Tenor | Bid (21 Jul) | Offer (21 Jul) | Bid (18 Jul) | Offer (18 Jul) |
| 1-Week | 10.92% | 11.42% | 10.93% | 11.43% |
| 2-Week | 10.91% | 11.41% | 10.89% | 11.39% |
| 1-Month | 10.86% | 11.36% | 10.83% | 11.33% |
| 3-Month | 10.81% | 11.06% | 10.80% | 11.05% |
| 6-Month | 10.76% | 11.01% | 10.76% | 11.01% |
| 9-Month | 10.71% | 11.21% | 10.71% | 11.21% |
| 1-Year | 10.66% | 11.16% | 10.66% | 11.16% |
The SBP’s daily publication of KIBOR data ensures transparency in the interbank lending environment and provides a reliable reference point for pricing various financial instruments. Most banks use the KIBOR as a base rate to calculate markups on commercial loans, making it an essential tool in credit agreements.
Today’s KIBOR data indicates a largely steady market, with very slight changes in short-term tenors such as the 1-week and 2-week rates. The consistency in longer-term tenors like the 6-month and 1-year rates points toward stability in monetary expectations.
The SBP will continue to monitor liquidity conditions and interest rate dynamics, and its regular updates on KIBOR offer valuable insights into the health of the domestic financial system.