State Bank of Pakistan

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SBP Policy Rate

11.00% p.a.

SBP Overnight
Reverse
Repo (Ceiling) Rate

12.00% p.a

SBP Overnight
Repo (Floor) Rate

10.00% p.a.

Weighted-average Overnight Repo Rate

As on 17-Jul-25
11.59% p.a.

KIBOR
As on 18-Jul-25

Tenor	BID	OFFER
3-M	10.80	11.05
6-M	10.76	11.01
12-M	10.66	11.16

MTBs

Tenor	Cut-off Yield
1-M	11.2403%
3-M	10.9977%
6-M	10.8976%
12-M	10.8000%
(as on July 09, 2025)

Fixed-rate PIB

Tenor	Cut-off Rates
2-Y	10.8480%
3-Y	11.0500%
5-Y	11.3900%
10-Y	12.2000%
15-Y	Bids Rejected
(as on Jul 16, 2025)

Floating-Rate PIBs (Quarterly Coupon)

Tenor	Cut-off Price
2-Y	Bids Rejected
3-Y	Bids Rejected

Floating-Rate PIBs
(Half-yearly Coupon)

Tenor	Cut-off Price
10-Y	94.5739
(as on Jul 09, 2025)

GIS FRR
Tenor	Cut-off Rental Rate/Price
3-Y	100.2842
5-Y	100.0022

GIS VRR
Tenor	Cut-off Margin/Price
3-Y	99.0800
5-Y	98.7600
(as on 21-Dec-2023)

PIB Auction
(Fixed Rate)
01-Aug-25

MTB
23-Jul-25

Floating Rate PIB
(Semi-Annual Coupon)

23-Jul-25

Floating-rate PIB
(Quarterly Coupon)

04-Feb-25

As on 11-July-25

7

SBP’s Reserves	14,525.6
Bank’s Reserves	5,431.5
Total Reserves	19,957.1

As on 18-Jul-25

M2M
Revaluation Rate

284.8667

Weighted
Average Rate

Bid:	284.6286
Offer:	285.0604


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