South Africa Treasury bills · auction of 24 May 2002
South Africa T-bill auction, 24 May 2002: 91-day at 11.38%, up 14 bps
At the Treasury bill auction dated 24 May 2002, the South African Reserve Bank cleared the 91-day bill at 11.38% (up 14 basis points) and the 182-day bill at 11.36% (up 11 basis points). The rate shown is the average rate at which bills are allotted in the weekly auction.
At 11.38%, the 91-day rate is the highest in the 49 auctions of the past year.
A year earlier the 91-day bill cleared at 10.36%, so the government is paying 102 basis points more than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 5,680 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 105,680 after 6 months: ZAR 5,680 in interest before any withholding tax, about ZAR 947 a month.
That is ZAR 55 more than the same money would have earned at the previous auction.
For shorter money: ZAR 2,845 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 | 11.380% | 11.240% | — | — | — |
| 182-day | 11.360% | 11.250% | — | — | — |
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, 24 May 2002, compiled from the South African Reserve Bank. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2002-05-24
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