Doha: Qatar National Bank (QNB) has announced the latest deposit rates for various currencies, reflecting minor fluctuations in the financial market. The rates were issued on Tuesday and cover a range of timeframes including one-month, two-month, three-month, six-month, and twelve-month deposits across different currencies.
According to Qatar News Agency, the deposit rates for the US Dollar (USD) start at 3.66738% for one-month deposits and increase to 3.98943% for twelve-month deposits. The Japanese Yen (JPY) rates begin at 0.71000% for a one-month term, climbing to 1.25000% for a twelve-month period. Swiss Franc (CHF) deposits show a negative interest rate of -0.05000% for one and two-month terms, moving to a positive 0.20000% for twelve-month deposits. The Great British Pound (GBP) starts at 3.67000% for one month and rises to 4.52000% for twelve months.
In terms of local and regional currencies, the Qatari Riyal (QAR) one-month deposit rate stands at 4.00000%, with a slight decrease to 3.75000% for twelve months. The Saudi Riyal (SAR) starts at 4.50000% for one month and slightly increases to 4.60000% for twelve months. The United Arab Emirates Dirham (AED) begins at 2.05000% for one month, peaking at 3.15000% for a twelve-month term. The Bahraini Dinar (BHD) shows a rate of 4.56000% for a one-month deposit, increasing to 5.06000% for a twelve-month period.
These rates provide insights into the current economic environment and serve as indicators for investors and depositors in navigating their financial strategies within Qatar and the broader region.