KIBOR & policy rate today
Every KIBOR tenor, the State Bank's policy rate and corridor, the overnight repo rate, and what they add up to in real terms — from official SBP data, updated each business day.
KIBOR by tenor · 09 Oct 2026
| Tenor | Bid | Offer | As of |
|---|---|---|---|
| 1 week | 11.36% | 11.86% | 22 Jul 2026 |
| 2 weeks | 11.37% | 11.87% | 22 Jul 2026 |
| 1 month | 11.39% | 11.89% | 22 Jul 2026 |
| 3 months | 11.74% | 11.99% | 09 Oct 2026 |
| 6 months | 12.16% | 12.41% | 09 Oct 2026 |
| 9 months | 11.43% | 11.93% | 22 Jul 2026 |
| 1 year | 12.23% | 12.73% | 09 Oct 2026 |
3-month KIBOR (offer) · last 12 months
KIBOR 3M minus policy rate · percentage points · last 12 months
Above zero, the market prices in rate rises; below zero, cuts.
Real policy rate since 1965 · policy rate minus CPI inflation
A PakDataHub derived series, computed monthly from the SBP policy rate in effect and national CPI inflation — formula and inputs.
Questions
What is KIBOR?
The Karachi Interbank Offered Rate — the average rate at which a panel of Pakistani banks says it would lend (offer) and borrow (bid) for each tenor. Loans, car financing and corporate credit in Pakistan are usually priced as KIBOR plus a spread; the 3- and 6-month offer rates are the common benchmarks.
How is KIBOR related to the SBP policy rate?
The State Bank sets the policy rate and an interest-rate corridor around it (the overnight reverse repo is the ceiling, the overnight repo the floor). Interbank rates trade inside that corridor, so KIBOR moves with expected policy: a 3-month KIBOR well above the policy rate signals the market expects hikes, below it expects cuts.
What is the real interest rate?
The policy rate minus CPI inflation over the previous year. A positive real rate means money earns more than prices rise; Pakistan's has swung from deeply negative to strongly positive. PakDataHub computes it monthly back to 1965 from official SBP and PBS series and publishes the formula.
Can I get KIBOR history through the API?
Yes — every tenor as a daily series back to 2005, bid and offer: /v1/series/rates.kibor.3m?dims=side:offer. The spreads and real rates are series too (rates.spread.kibor_3m_policy, rates.real.policy). A free key covers the last year; longer history is on paid plans.
Data: State Bank of Pakistan (KIBOR, policy rate, repo), PBS (CPI); real rates and spreads derived by PakDataHub. Pull it all through the API.