South Africa Treasury bills · auction of 1 July 2005
South Africa T-bill auction, 1 July 2005: 91-day at 6.75%, down 1 bps
At the Treasury bill auction dated 1 July 2005, the South African Reserve Bank cleared the 91-day bill at 6.75% (down 1 basis point) and the 182-day bill at 6.70% (down 1 basis point). 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 6.71% to 7.91%.
A year earlier the 91-day bill cleared at 7.87%, so the government is paying 112 basis points less than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 3,350 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 103,350 after 6 months: ZAR 3,350 in interest before any withholding tax, about ZAR 558 a month.
That is ZAR 5 less than the same money would have earned at the previous auction.
For shorter money: ZAR 1,688 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 | 6.750% | 6.760% | — | — | — |
| 182-day | 6.700% | 6.710% | — | — | — |
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 July 2005, compiled from the South African Reserve Bank. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2005-07-01
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