Doha: Qatar National Bank (QNB) has issued updated deposit rates, effective from Sunday, providing a detailed breakdown for multiple currencies, including USD, JPY, CHF, GBP, as well as regional currencies such as QAR, SAR, AED, and BHD. These rates reflect the current economic conditions and offer insights into the bank's financial strategies.

According to Qatar News Agency, the deposit rates for USD start at 3.61281% for a one-month term, increasing to 3.78642% for a twelve-month term. Japanese Yen (JPY) deposits begin at 0.70000% for one month, reaching up to 1.20000% for a year. Swiss Franc (CHF) deposits show a rare negative interest rate of -0.19000% for one month, which turns slightly positive at 0.15000% for a twelve-month term. The British Pound (GBP) starts at 3.74000% for one month and rises to 4.62000% for a twelve-month deposit.

For regional currencies, the Qatari Riyal (QAR) has a rate of 4.05000% for one month, tapering down to 3.75000% for a twelve-month deposit. The Saudi Riyal (SAR) maintains a stable rate of 4.30000% from the two-month term onwards. The UAE Dirham (AED) sees an increase from 2.05000% for a one-month term to 3.15000% for a twelve-month term. The Bahraini Dinar (BHD) offers rates starting at 4.57000% for a one-month deposit, with a slight rise to 4.63000% for the longer twelve-month term.

These updated rates demonstrate QNB's positioning in the current financial landscape, providing competitive options for both local and international investors looking to maximize their returns on deposits.