Doha: Deposit rates at opening as issued on Monday by Qatar National Bank (QNB) have been released, showing varied interest rates across several currencies for different tenures. This update provides insights into how different currencies are performing in terms of deposit returns over varying timeframes from one month to one year.
According to Qatar News Agency, the deposit rates for the US Dollar (USD) begin at 3.74231% for one month, increasing to 4.12425% for a 12-month deposit. The Japanese Yen (JPY) shows a consistent increase from 1.05000% for one month to 1.50000% for a 12-month deposit period. The Swiss Franc (CHF) starts at a negative rate of -0.18000% for one month but climbs to a positive 0.20000% for a 12-month period. The British Pound (GBP) rates begin at 3.67000% and rise to 4.54000% over 12 months.
For the Qatari Riyal (QAR), the deposit rate is stable at 4.10000% for one to three months, increasing slightly to 4.15000% for six and twelve months. The Saudi Riyal (SAR) starts at 4.50000% for one month, with a slight drop to 4.30000% for two months, and peaks at 4.60000% for twelve months. The UAE Dirham (AED) shows a starting rate of 2.05000% for one month, reaching 3.15000% for twelve months. Lastly, the Bahraini Dinar (BHD) begins with a rate of 4.56000% for one month, increasing to 5.13000% over a 12-month period.
These deposit rates reflect the current economic conditions and interest rate trends in Qatar's financial market, providing depositors with a range of options for their savings based on currency and desired deposit duration.