South Africa Treasury bills · auction of 18 January 2013
South Africa T-bill auction, 18 January 2013: 364-day at 4.96%, down 2 bps
At the Treasury bill auction dated 18 January 2013, the South African Reserve Bank cleared the 91-day bill at 5.04% (down 2 basis points), the 182-day bill at 5.13% (down 1 basis point) and the 364-day bill at 4.96% (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 364-day rate has ranged from 4.80% to 5.68%.
A year earlier the 364-day bill cleared at 5.58%, so the government is paying 62 basis points less than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 4,960 in 12 months on the 364-day bill
Put ZAR 100,000 into the 364-day bill at this auction and you get back ZAR 104,960 after 12 months: ZAR 4,960 in interest before any withholding tax, about ZAR 413 a month.
That is ZAR 20 less than the same money would have earned at the previous auction.
For shorter money: ZAR 2,565 on the 182-day bill (6 months), ZAR 1,260 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 | 5.040% | 5.060% | — | — | — |
| 182-day | 5.130% | 5.140% | — | — | — |
| 364-day | 4.960% | 4.980% | — | — | — |
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, 18 January 2013, compiled from the South African Reserve Bank. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2013-01-18
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