3 Month BKBM Swap Rate: Current & Historical
The 3 month BKBM swap rate is the fixed rate exchanged for 3-month BKBM over the next 3 months, quoted annualised. Check the current rate, its one-year chart and daily history, with downloads straight to Excel.
NZD · 3M · BKBM
52-wk range
2.41% – 3.20%
Last update:
Recent daily closes
| Date | Rate | Daily change |
|---|---|---|
| Live | – | |
| 27 Jul 2026 | 2.91% | +1 bp |
| 24 Jul 2026 | 2.90% | 0 bp |
| 23 Jul 2026 | 2.90% | 0 bp |
| 22 Jul 2026 | 2.90% | +2 bp |
| 21 Jul 2026 | 2.88% | 0 bp |
| 20 Jul 2026 | 2.88% | 0 bp |
| 17 Jul 2026 | 2.88% | +1 bp |
| 16 Jul 2026 | 2.87% | +1 bp |
| 15 Jul 2026 | 2.86% | -1 bp |
| 14 Jul 2026 | 2.87% | +2 bp |
Rates built from interdealer broker and exchange quotes. Read how we build these rates.
This is yesterday's close
See the live 3 month BKBM swap rate
- Live mids, refreshed every minute
- Full 3 month daily history to Excel
- Every BKBM tenor, 3 months to 30 years
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Live 3 month BKBM in Excel & API
If you're on this page more than once a month, you don't need a rate, you need a feed. One function, always-live curves, straight in your model.
// Excel: live 3M BKBM swap rate in a cell =BlueGamma.SWAP_RATE("3M BKBM", start_date, maturity_date, "1Y") # API: the same rate, one GET away GET api.bluegamma.io/v1/swap_rate ?index=3M BKBM&start_date=2D&maturity_date=3M x-api-key: your_api_key
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FAQs
The 3 month BKBM swap rate is the fixed interest rate, quoted annualised, that market participants exchange for 3-month BKBM over the next 3 months. It is set in the interdealer swap market and moves continuously with expectations for Reserve Bank of New Zealand policy.
The rate shown on this page is the previous New Zealand business day's close; the live rate is available in the BlueGamma app.
Three common reasons:
- Timing: this page shows the previous New Zealand business day's mid-market close, while banks quote off the live curve, which moves through the day.
- Spread: the mid-market rate is the raw interbank level. A bank's quote adds a credit and execution charge, and on a loan a lending margin on top.
- Conventions: a quote using a different payment frequency or day count will differ slightly from the annual/annual rate shown here.
If you are comparing a quote against the market, compare it with the live mid rate at the time of the quote.
Almost entirely the expected path of BKBM over the next 3 months. There is very little term premium at this maturity, so the rate sits close to the average overnight fixing the market expects between now and the maturity date.
That makes the short end a clean read on near-term Reserve Bank of New Zealand policy: when the market prices a cut inside the next 3 months, the 3 month BKBM swap rate trades below today's BKBM fixing, and above it when a hike is priced.
This page shows the last 12 months of daily closes, the 52-week range and dated lookbacks.
The BlueGamma app carries the full daily history for every BKBM tenor, alongside 20+ other currencies, with downloads straight to Excel.
BlueGamma takes quotes directly from leading inter-dealer brokers and exchanges, bootstraps them into ready-to-use curves, and validates the output for consistency on a regular basis.
The rates shown on this page are the previous New Zealand business day’s close. Live rates, refreshed every minute, are available in the BlueGamma app with a free trial.
More on BKBM
NZD Swap Rates for All Tenors
The full rates table: every liquid BKBM tenor with one-week, one-month and one-year history.
BKBM Forward Curve
Where the market prices BKBM going next: the full NZD forward curve.
NZIONA Forward Curve
The overnight alternative: where the market prices NZIONA going next.
More from BlueGamma
Or browse the full swap rate catalogue, covering all 86 rates across 33 currencies.