Karachi, December 23, 2025 – The State Bank of Pakistan (SBP) on Tuesday released the updated Karachi Interbank Offered Rates (KIBOR) for December 23, 2025, providing an important benchmark for banks, corporates, and financial institutions involved in lending and borrowing activities across the country.
KIBOR represents the average interest rate at which banks are willing to lend unsecured funds to one another in the interbank market. These rates are widely used for pricing a range of financial products, including corporate loans, working capital facilities, trade finance, and consumer financing such as auto and housing loans.
According to the latest SBP data, KIBOR rates edged slightly lower across most tenors compared to the previous working day, indicating stable liquidity conditions in the money market. Market participants believe the marginal decline reflects balanced supply and demand for funds, as well as expectations that the central bank’s monetary policy stance will remain steady in the near term.
Below are the updated KIBOR rates for December 23, 2025, followed by a comparison with the rates recorded on December 22, 2025.
KIBOR Rates – December 23, 2025
| Tenor | Bid (%) | Offer (%) |
| 1-Week | 10.32 | 10.82 |
| 2-Week | 10.33 | 10.83 |
| 1-Month | 10.34 | 10.84 |
| 3-Month | 10.39 | 10.64 |
| 6-Month | 10.41 | 10.66 |
| 9-Month | 10.43 | 10.93 |
| 1-Year | 10.44 | 10.94 |
KIBOR Rates – December 22, 2025
| Tenor | Bid (%) | Offer (%) |
| 1-Week | 10.34 | 10.84 |
| 2-Week | 10.35 | 10.85 |
| 1-Month | 10.35 | 10.85 |
| 3-Month | 10.40 | 10.65 |
| 6-Month | 10.44 | 10.69 |
| 9-Month | 10.47 | 10.97 |
| 1-Year | 10.48 | 10.98 |
Analysts noted that movements in KIBOR are closely watched by borrowers and investors, as even small changes can impact financing costs and overall economic activity.