KIBOR Rates Drop By Up to 53 Basis Points After SBP Decision

KIBOR tenors of 1-Week, 2-Week and 1-Month fell by up to 53 basis points (bps) on a day-on-day (DoD) basis after the central bank reduced its benchmark policy to 19.5 percent a day earlier. Post yesterday’s monetary policy, the KIBOR rates across 1 week to 1 month have witnessed a decline, ranging from 30 bps to 53 bps. Meanwhile, rates across 3 months to 1 year have witnessed a meagre increase ranging from 1-2bps. 1W and 2W KIBOR decreased by 53 bps and 37 bps DoD, respectively to 20 percent and 19.98 percent. The other widely used 3-Month KIBOR was up 1 bps and was recorded at 19.53 percent. The 1-year KIBOR also moved up one bps to 18.5 percent.