The 6-Month Karachi Inter-Bank Offered Rate (KIBOR), a key benchmark for lending to consumers and businesses, fell by 37 basis points (bps) on a day-on-day basis, reaching 18.91 percent.

This marks the lowest level since February 17, 2023, following a robust performance in this week’s domestic bond market.

The decline in KIBOR comes after a mid-week T-Bill auction where the government successfully raised Rs. 355 billion in debt at rates as low as 17.59 percent.

On Wednesday, the government secured Rs. 39 billion for the three-month T-Bill in a competitive auction. Additionally, it raised Rs. 87 billion and Rs. 133.6 billion for the 6-month and 12-month T-Bills, respectively.

Further analysis of the official figures reveals that the government also raised Rs. 95.07 billion through non-competitive bids, bringing the total amount raised during the auction to Rs. 354.67 billion.