Doha: Qatar National Bank (QNB) has announced the latest deposit rates across several currencies, effective from Wednesday. The rates, which have been issued for various tenors, reflect the current financial climate and are expected to influence both individual and institutional depositors in the region.

According to Qatar News Agency, the deposit rates for USD are set at 4.31440 for 1 month (1M), 4.31926 for 2 months (2Ms), 4.32412 for 3 months (3Ms), 4.26462 for 6 months (6Ms), and 4.08290 for 12 months (12Ms). The rates for the Japanese Yen (JPY) start at 0.35000 for 1M and reach 0.55000 for 12Ms. Swiss Franc (CHF) deposit rates are in negative territory for several tenors, with rates such as -0.12000 for both 1M and 3Ms.

The British Pound (GBP) deposit rates show a range from 4.14000 for 1M to 4.34000 for 3Ms, with 12Ms deposits at 4.28000. Meanwhile, deposit rates for the Qatari Riyal (QAR) start at 4.85000 for 1M and decrease to 4.50000 for 12Ms.

In addition, the Saudi Riyal (SAR) rates are consistent with a slight decrease over time, starting at 4.90000 for 1M and reducing to 4.80000 for 12Ms. The UAE Dirham (AED) and Bahraini Dinar (BHD) also have varied rates, with the AED starting at 2.05000 for 1M and increasing to 3.15000 for 12Ms, while the BHD remains steady at 5.00000 for several tenors before decreasing to 4.50000 for 12Ms.

These rates provide critical insights for depositors looking to optimize their savings and investment strategies in the current economic environment.