| GEO Business|
| KSE: 6 months Kibor rate down by 217 basis points|
| Updated at: 1340 PST, Monday, April 20, 2009|
KARACHI: Six months Kibor rate among the banks from January till today diminished by 217 basis points.
Money market dealers said 6 months Kibor, which was seen at 15.68 percent on January 1, 2009, was seen dropped down to 12.44 by March 17.
Dealers attributed this to the existing additional liquidity in the banking system and, thereafter, it gradually increased and due to increase in cut off yield in April 8 Treasury Bills auction, 6 months Kibor went beyond even 13.50 percent and now it stood at 13.51 percent.
Former Finance Advisor, Dr. Salman Shah said that the Central Bank would have to further inject fund into the banking system for the lowering of Kibor rate.