Doha: Qatar National Bank (QNB) has announced the new deposit rates for various currencies as of Tuesday. The rates apply to different tenors, including 1 month (1M), 2 months (2Ms), 3 months (3Ms), 6 months (6Ms), and 12 months (12Ms), and cover a range of currencies such as USD, JPY, CHF, GBP, QAR, SAR, AED, and BHD.

According to Qatar News Agency, the USD deposit rates begin at 4.14288% for 1M, decreasing to 3.60702% for 12Ms. JPY deposit rates start at 0.40000% for the initial two tenors and rise slightly to 0.55000% for 12Ms. The CHF rates are in the negative range, starting at -0.15000% for 1M and improving to -0.01000% over 12Ms. GBP deposit rates show a gradual increase from 3.88000% for 1M to 4.11000% for 12Ms.

For local and regional currencies, QAR deposit rates commence at 4.80000% for 1M and decline to 4.45000% for 12Ms. SAR rates increase from 4.90000% for 1M to 5.10000% for 3Ms and stabilize slightly lower at 5.05000% for 12Ms. AED deposit rates start at 2.05000% for 1M and rise to 3.15000% for 12Ms. BHD rates begin at 5.29000% for 1M, decrease to 4.54000% for 12Ms, indicating a downward trend over the longer term.

These adjusted rates reflect the current economic conditions and market trends affecting currency deposits in Qatar and the region.