Doha: Qatar National Bank (QNB) has released the latest deposit rates for various currencies, effective from Wednesday. The rates vary across different tenures and currencies, reflecting current market conditions.

According to Qatar News Agency, the USD deposit rates are set at 3.65997% for one month, decreasing slightly to 3.64964% for two months, and further to 3.63930% for three months. A more significant drop is noted in the six-month rate at 3.57299%, culminating in a one-year rate of 3.42329%. In contrast, the Japanese yen (JPY) starts at 0.70000% for one month, dips to 0.62000% for two months, rises slightly to 0.65000% for three months, and continues to increase to 1.07000% for twelve months.

The Swiss franc (CHF) rates maintain negative values, beginning at -0.08000% for one month, decreasing to -0.12000% by two months, and reaching -0.13000% at three months. A slight improvement to -0.03000% is observed at six months, before settling at -0.12000% for the year. The British pound (GBP) rates start at 3.62000% for one month, peak at 3.80000% for twelve months, with minor fluctuations in between.

For regional currencies, the Qatari riyal (QAR) rates begin at 4.07765% for one month, declining to 3.72500% for twelve months. The Saudi riyal (SAR) rates hold steady at 4.50000% for one month and decrease to 4.30000% for twelve months. The UAE dirham (AED) shows an upward trend starting at 2.05000% for one month and rising to 3.15000% for twelve months. Bahraini dinar (BHD) rates decrease from 4.60000% for one month to 4.10000% for a year.

These updated rates by QNB reflect the bank's strategic response to the current economic environment and currency market dynamics.