South Africa Treasury bills · auction of 1 February 2002
South Africa T-bill auction, 1 February 2002: 91-day at 9.45%, down 6 bps
At the Treasury bill auction dated 1 February 2002, the South African Reserve Bank cleared the 91-day bill at 9.45% (down 6 basis points) and the 182-day bill at 10.20% (up 26 basis points). The rate shown is the average rate at which bills are allotted in the weekly auction.
Over the past year the 91-day rate has ranged from 8.66% to 10.40%.
A year earlier the 91-day bill cleared at 10.12%, so the government is paying 67 basis points less than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 5,100 in 6 months on the 182-day bill
Put ZAR 100,000 into the 182-day bill at this auction and you get back ZAR 105,100 after 6 months: ZAR 5,100 in interest before any withholding tax, about ZAR 850 a month.
That is ZAR 130 more than the same money would have earned at the previous auction.
For shorter money: ZAR 2,362 on the 91-day bill (3 months).
The government pays the full amount at maturity; the risk is South Africa’s government not paying, and the money is locked until then.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 9.450% | 9.510% | — | — | — |
| 182-day | 10.200% | 9.940% | — | — | — |
Source: South African Reserve Bank result · average rate at which bills are allotted in the weekly auction
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Afronomics (2026). South Africa Treasury bill auction, 1 February 2002, compiled from the South African Reserve Bank. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2002-02-01
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