Doha: Qatar National Bank (QNB) has announced the latest deposit rates for a range of currencies, effective as of Tuesday. The rates vary across different tenures and currencies, reflecting the current financial environment and the bank’s strategic monetary positioning.

According to Qatar News Agency, the deposit rates for USD start at 4.34887% for a one-month term, gradually decreasing to 3.98354% for a twelve-month term. Meanwhile, the Japanese Yen (JPY) offers a one-month rate of 0.40000%, decreasing to 0.25000% for both two and three-month terms, before slightly increasing to 0.55000% for twelve months.

The Swiss Franc (CHF) deposit rates are all negative, beginning at -0.20000% for one month and slightly improving to -0.01000% for twelve months. For the British Pound (GBP), the one-month rate is set at 4.11000%, with a noticeable increase to 4.16000% for three months, before settling at 4.14000% for a twelve-month deposit.

In terms of regional currencies, the Qatari Riyal (QAR) offers a one-month deposit rate of 4.85000%, progressively dropping to 4.50000% for a twelve-month term. The Saudi Riyal (SAR) starts at 4.90000% for one month, peaking at 5.10000% for both three and six months, and slightly reducing to 5.05000% for a twelve-month deposit.

The UAE Dirham (AED) shows a one-month deposit rate of 2.05000%, increasing to 3.15000% for a twelve-month term. Finally, the Bahraini Dinar (BHD) maintains a consistent rate of 5.00000% for one to six-month terms, before adjusting to 4.50000% for twelve months.

These rates are indicative of QNB’s response to the prevailing economic conditions and its approach to attracting deposits across various currencies.