The Karachi Interbank Offered Rate, commonly known as KIBOR, is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Karachi wholesale (or "interbank") money market.[1] The banks used it as a benchmark in their lending to corporate sector.[2]
It is also known as the benchmark rate and is published by Financial Market Association of Pakistan.[2]
Process
It is quoted daily by participating banks on Reuters at 11:30 am.[3] With 20 member banks, KIBOR rates are calculated by averaging the middle twelve rates, excluding the four highest and four lowest quotes.[4]
Tenors
See also
Notes
- ↑ "SBP exempts Islamic banks from using KIBOR". November 1, 2016.
- 1 2 "State Bank of Pakistan". www.sbp.org.pk.
- ↑ "State Bank of Pakistan".
- ↑ "State Bank of Pakistan".
- 1 2 3 4 5 6 7 Memon, Bilal (April 26, 2022). "6-month KIBOR has hit a 13-year high at 14.1%. Here is what this means". Brecorder.
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