Doha: Deposit rates at opening as issued on Monday by Qatar National Bank (QNB) have been announced for various currencies including the US Dollar, Japanese Yen, Swiss Franc, and British Pound as well as the Qatari Riyal, Saudi Riyal, UAE Dirham, and Bahraini Dinar. The rates vary across different time frames such as one month, two months, three months, six months, and twelve months.
According to Qatar News Agency, for the US Dollar, the one-month deposit rate is set at 3.63229%, while the twelve-month rate is higher at 3.72516%. The Japanese Yen has a consistent one and two-month rate at 0.70000%, with an increase to 1.15000% for twelve months. The Swiss Franc starts at -0.10000% for one month and rises to 0.15000% over twelve months. The British Pound's rates begin at 3.69000% for one month and increase to 4.52000% for a twelve-month deposit.
For the local Qatari Riyal, the one-month deposit rate is 4.04420%, dropping slightly to 3.88333% for twelve months. The Saudi Riyal holds steady at 4.30000% from two to twelve months, while the UAE Dirham's one-month rate of 2.05000% increases to 3.15000% over twelve months. The Bahraini Dinar's rates begin at 4.60000% for one month and decrease to 4.10000% for a twelve-month period.
These rates reflect the current economic conditions and are subject to change based on market fluctuations and monetary policy adjustments by QNB.