Doha: Qatar National Bank (QNB) has announced the latest deposit rates for a range of currencies, which came into effect on Tuesday. The rates cover different tenures, including one month (1M), two months (2Ms), three months (3Ms), six months (6Ms), and twelve months (12Ms), for currencies such as the US Dollar (USD), Japanese Yen (JPY), Swiss Franc (CHF), British Pound (GBP), Qatari Riyal (QAR), Saudi Riyal (SAR), UAE Dirham (AED), and Bahraini Dinar (BHD).

According to Qatar News Agency, the deposit rates for the USD start at 3.65011% for a one-month duration and increase progressively to 4.08955% for a twelve-month deposit. The Japanese Yen maintains a steady rate of 0.95000% for durations up to three months, before increasing to 1.42000% at twelve months. For the Swiss Franc, the rates begin at -0.17000% for one month and rise to 0.20000% for a twelve-month deposit. The British Pound starts at 3.70000% for a one-month deposit and ascends to 4.43000% for a year-long deposit.

In terms of regional currencies, the Qatari Riyal's rates are set at 4.02340% for a one-month deposit, slightly decreasing to 3.95000% for a twelve-month duration. The Saudi Riyal remains consistent at 4.50000% for one and six months, with a slight increase to 4.60000% for a twelve-month deposit. The UAE Dirham rates range from 2.05000% for one month to 3.15000% for twelve months. Lastly, the Bahraini Dinar starts at 4.60000% for a one-month deposit, gradually rising to 4.85000% for a twelve-month deposit.

These variations in rates reflect the bank's strategy to offer competitive returns across different currencies and tenures, allowing investors and depositors to make informed decisions based on their financial needs and market conditions.