Doha: Deposit rates at opening as issued on Monday by Qatar National Bank (QNB) have been announced, providing insights into the current interest rate landscape for several major currencies.
According to Qatar News Agency, the newly issued rates for the US Dollar (USD) indicate an upward trend across different maturity periods, starting at 3.68336% for one month and reaching 4.02574% for a twelve-month deposit. The Japanese Yen (JPY) shows rates beginning at 1.00000% for one month, increasing to 1.45000% for twelve months.
For the Swiss Franc (CHF), interest rates start at -0.20000% for a one-month deposit, with a gradual increase to 0.20000% for a twelve-month period. The British Pound (GBP) rates begin at 3.83000% for one month and escalate to 4.51000% for a twelve-month deposit.
In the Middle Eastern currencies, the Qatari Riyal (QAR) maintains a consistent rate of 4.10000% for one to three-month deposits, increasing slightly to 4.15000% for six and twelve months. The Saudi Riyal (SAR) rates fluctuate slightly, starting at 4.50000% for one month and modestly rising to 4.60000% at twelve months.
The rates for the United Arab Emirates Dirham (AED) begin at 2.05000% for a one-month deposit, seeing a significant increase to 3.15000% for a twelve-month deposit. Finally, the Bahraini Dinar (BHD) starts at 4.56000% for a one-month deposit, peaking at 5.06000% for a twelve-month term.
These updated rates provide crucial information for investors and account holders in planning their financial strategies.