Karachi, January 22, 2026 – The State Bank of Pakistan (SBP) on Thursday released the updated Karachi Interbank Offered Rates (KIBOR) to guide banks, financial institutions, and investors in making informed decisions.
KIBOR rates serve as a benchmark for interest rates in Pakistan’s money market and influence lending, borrowing, and discount rates across the country.
The daily comparison of KIBOR rates shows a slight easing in most tenors compared to the previous session, signaling potential room for a reduction in discount rates in the upcoming monetary policy statement by the SBP. Analysts said the dip reflects liquidity improvements and is expected to provide relief for borrowers.
KIBOR Rates – January 22, 2026
| Tenor | Bid | Offer |
| 1-Week | 10.17 | 10.67 |
| 2-Week | 10.11 | 10.61 |
| 1-Month | 10.05 | 10.55 |
| 3-Month | 9.99 | 10.24 |
| 6-Month | 9.99 | 10.24 |
| 9-Month | 9.99 | 10.49 |
| 1-Year | 9.98 | 10.48 |
KIBOR Rates – January 21, 2026
| Tenor | Bid | Offer |
| 1-Week | 10.21 | 10.71 |
| 2-Week | 10.16 | 10.66 |
| 1-Month | 10.09 | 10.59 |
| 3-Month | 10.06 | 10.31 |
| 6-Month | 10.06 | 10.31 |
| 9-Month | 10.04 | 10.54 |
| 1-Year | 10.03 | 10.53 |
Financial experts highlighted that the slight decrease in KIBOR rates may signal easier borrowing conditions for businesses and consumers, potentially encouraging investment and boosting economic activity. The SBP continues to monitor liquidity and market trends closely to maintain stability in Pakistan’s financial system.