Doha: Qatar National Bank (QNB) has released its latest deposit rates, providing an update on the interest rates applicable for various currencies. These rates have been issued as of Thursday and highlight the bank’s offerings for different deposit tenures and currencies.
According to Qatar News Agency, the deposit rates for USD range from 4.32867 for a one-month deposit to 4.06332 for a twelve-month deposit. For the Japanese Yen (JPY), the rates start at 0.35000 for one month, peaking at 0.55000 for a twelve-month deposit. The Swiss Franc (CHF) exhibits a slight fluctuation, with rates starting at 0.02000 for one month, turning negative at three months with -0.01000, and stabilizing at 0.03000 for longer durations. The British Pound (GBP) shows a more consistent pattern, with rates starting at 4.16000 for one month and reaching 4.33000 for three months, before settling at 4.29000 for both six and twelve months.
For the Qatari Riyal (QAR), the one-month deposit rate is 4.85000, decreasing progressively to 4.50000 for a twelve-month deposit. The Saudi Riyal (SAR) starts at 4.90000 for a one-month deposit, with a slight increase to 5.10000 for three months, before tapering off to 4.80000 for a year-long deposit. The UAE Dirham (AED) exhibits a more significant rise from 2.05000 for one month to 3.15000 for twelve months. Meanwhile, the Bahraini Dinar (BHD) maintains a consistent rate of 5.00000 for deposits up to six months, with a slight reduction to 4.50000 for twelve-month deposits.
These rates reflect the current monetary policies and economic conditions influencing the region, offering investors and depositors a range of options for optimizing their financial strategies.