Doha: Deposit rates at opening, as issued on Monday by Qatar National Bank (QNB), reveal a varied landscape for multiple currencies, reflecting changes in the financial environment. The bank has released specific rates for different tenures and currencies, providing insight into current financial trends.
According to Qatar News Agency, the published rates for USD show a progression from 3.66738% for 1-month deposits to 4.02612% for 12-month deposits. The Japanese Yen (JPY) remains consistent at 0.95000% for deposits up to three months, with a slight increase to 1.30000% for 12-month deposits. The Swiss Franc (CHF) displays a negative rate for short-term deposits, starting at -0.19000% for 1-month deposits, turning positive at 0.20000% for 12 months. For the British Pound (GBP), the rates begin at 3.70000% for 1-month deposits, escalating to 4.28000% for a 12-month period.
In the local currency domain, the Qatari Riyal (QAR) shows a decrease from 4.02100% for 1-month deposits to 3.75000% for 12-month deposits. The Saudi Riyal (SAR) starts at 4.50000% for 1-month deposits and maintains stability, reducing to 4.30000% for 12-month deposits. The UAE Dirham (AED) sees an increase from 2.05000% for 1-month deposits to 3.15000% for 12-month deposits. Lastly, the Bahraini Dinar (BHD) has a minor increase over the period, starting at 4.60000% for 1-month deposits and reaching 4.85000% for 12-month deposits.
These rates reflect the current financial strategies and market conditions as assessed by Qatar National Bank, providing stakeholders with essential information for financial planning and investment decisions.