Karachi, November 21, 2025 – The State Bank of Pakistan (SBP) released the updated Karachi Interbank Offered Rates (KIBOR) for Friday, providing banks, financial institutions, and corporate borrowers fresh benchmarks for short-term lending and financing.
KIBOR rates play a crucial role in Pakistan’s financial system, as they serve as a reference point for pricing loans, corporate debt, and various banking products.
According to the SBP, minor fluctuations were noted across different tenors when compared with the previous day’s rates. While most short-term tenors recorded slight adjustments, the one-year tenor showed a small downward movement, indicating marginal easing in the lending environment.
Below are the updated KIBOR rates for November 21, 2025, followed by a comparison table showing the rates from November 20, 2025.
KIBOR – November 21, 2025
| Tenor | Bid | Offer |
| 1-Week | 10.87 | 11.37 |
| 2-Week | 10.88 | 11.38 |
| 1-Month | 10.88 | 11.38 |
| 3-Month | 10.90 | 11.15 |
| 6-Month | 10.93 | 11.18 |
| 9-Month | 10.95 | 11.45 |
| 1-Year | 10.97 | 11.47 |
KIBOR – November 20, 2025
| Tenor | Bid | Offer |
| 1-Week | 10.90 | 11.40 |
| 2-Week | 10.89 | 11.39 |
| 1-Month | 10.89 | 11.39 |
| 3-Month | 10.90 | 11.15 |
| 6-Month | 10.94 | 11.19 |
| 9-Month | 10.96 | 11.46 |
| 1-Year | 10.99 | 11.49 |
Financial analysts note that these small shifts reflect stable liquidity conditions in the banking sector. The updated figures will guide banks in setting their lending rates for corporate clients and short-term financing products across the market.