Doha: Deposit rates at opening, as issued on Wednesday by Qatar National Bank (QNB), present varied interest opportunities across multiple currencies, reflecting ongoing global financial conditions and policy adjustments.
According to Qatar News Agency, the newly announced rates reveal specific interest returns for different durations, spanning from one month to twelve months, across a selection of major and regional currencies. For USD, the rates start at 3.65197% for a one-month deposit and increase to 3.99007% for a twelve-month deposit. Japanese Yen (JPY) maintains a consistent rate of 0.95000% for one to six-month deposits, with a slight increase to 1.28000% for twelve months.
The Swiss Franc (CHF) demonstrates minor negative interest for short-term deposits, starting at -0.05000% for one and two months, transitioning to a positive 0.20000% for a twelve-month deposit. Meanwhile, the British Pound (GBP) sees a gradual increase from a 3.75000% rate for one month to 4.35000% for twelve months.
In terms of regional currencies, Qatari Riyal (QAR) deposits begin at a 4.03340% rate for one month, decreasing slightly to 3.75000% for a twelve-month term. Saudi Riyal (SAR) maintains a stable rate of 4.30000% for two to twelve-month deposits, and the UAE Dirham (AED) shows an upward trend from 2.05000% for one month to 3.15000% for twelve months. The Bahraini Dinar (BHD) offers one of the highest rates, starting at 4.60000% for a one-month deposit and peaking at 4.85000% for a twelve-month deposit.
These rates, reflective of Qatar's economic positioning and the global financial landscape, provide insight into the strategic interest offerings balancing both international and regional economic factors.