South Africa Treasury bills · auction of 23 March 2007
South Africa T-bill auction, 23 March 2007: 91-day at 8.25%, down 2 bps
At the Treasury bill auction dated 23 March 2007, the South African Reserve Bank cleared the 91-day bill at 8.25% (down 2 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 6.60% to 8.87%.
A year earlier the 91-day bill cleared at 6.49%, so the government is paying 176 basis points more than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 2,063 in 3 months on the 91-day bill
Put ZAR 100,000 into the 91-day bill at this auction and you get back ZAR 102,063 after 3 months: ZAR 2,063 in interest before any withholding tax, about ZAR 688 a month.
That is ZAR 5 less than the same money would have earned at the previous auction.
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 | 8.250% | 8.270% | — | — | — |
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, 23 March 2007, compiled from the South African Reserve Bank. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2007-03-23
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