A significant drop of 159 basis points (bps) was seen in the 6-month term Karachi Inter-Bank Offered Rate (KIBOR), which is a crucial benchmark for lending to both consumers and businesses.
The central bank's decision to keep its main policy rate at 22 percent was followed by this drop.
Despite recent changes in the secondary market that led to the government acquiring debt at notably high lending rates, data from the State Bank of Pakistan (SBP) showed that the 6-month KIBOR was at 23.09 percent.
Similar to this, the frequently used 3-Month KIBOR fell by 124 bps to settle at 22.8 percent, while the 1-Year KIBOR fell by 161 bps to reach 23.43 percent.
Treasury Bill rates likewise showed a downward trend. According to Mohammed Sohail, CEO of Topline Securities, the interest rate on the 3-month Treasury Bill declined from 23.78 percent on Thursday to 22.5 percent today.