South Africa Treasury bills · auction of 4 July 2014
South Africa T-bill auction, 4 July 2014: 364-day at 6.31%, up 2 bps
At the Treasury bill auction dated 4 July 2014, the South African Reserve Bank cleared the 91-day bill at 6.03% (up 6 basis points), the 182-day bill at 6.12% (up 17 basis points) and the 364-day bill at 6.31% (up 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 5.36% to 6.79%.
A year earlier the 364-day bill cleared at 5.37%, so the government is paying 94 basis points more than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 6,310 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 106,310 after 12 months: ZAR 6,310 in interest before any withholding tax, about ZAR 526 a month.
That is ZAR 20 more than the same money would have earned at the previous auction.
For shorter money: ZAR 3,060 on the 182-day bill (6 months), ZAR 1,508 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 | 6.030% | 5.970% | — | — | — |
| 182-day | 6.120% | 5.950% | — | — | — |
| 364-day | 6.310% | 6.290% | — | — | — |
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, 4 July 2014, compiled from the South African Reserve Bank. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2014-07-04
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