Doha: Deposit rates at opening as issued on Sunday by Qatar National Bank (QNB) reflect varying interest rates across several currencies, providing insights into the current financial landscape. The rates are categorized under different timeframes, including one month (1M), two months (2Ms), three months (3Ms), six months (6Ms), and twelve months (12Ms).
According to Qatar News Agency, the deposit rates for USD start at 4.32178% for 1M and gradually decrease to 3.86408% for 12Ms. The Japanese Yen (JPY) shows a lower interest rate, beginning at 0.43000% for 1M and increasing slightly to 0.65000% for 12Ms. The Swiss Franc (CHF) displays marginal rates, starting at 0.01000% for 1M and dropping to -0.02000% for 12Ms. Meanwhile, the British Pound (GBP) offers rates starting at 4.28000% for 1M and slightly reducing to 4.22000% for 12Ms.
For regional currencies, the Qatar Riyal (QAR) exhibits a 4.85000% rate for 1M, which lowers to 4.45000% for 12Ms. The Saudi Riyal (SAR) begins at 4.90000% for 1M and decreases to 4.80000% for 12Ms. The United Arab Emirates Dirham (AED) starts at 2.05000% for 1M, rising to 3.15000% for 12Ms. The Bahraini Dinar (BHD) offers a 5.27000% rate for 1M, which drops to 4.59000% for 12Ms.
These rates provide a comprehensive overview for individuals and businesses considering deposit options within Qatar, reflecting the current economic conditions and interest trends set by Qatar National Bank.