South Africa Treasury bills · auction of 15 December 2017
South Africa T-bill auction, 15 December 2017: 364-day at 7.62%, up 5 bps
At the Treasury bill auction dated 15 December 2017, the South African Reserve Bank cleared the 91-day bill at 7.60% (up 10 basis points), the 182-day bill at 7.80% (up 15 basis points) and the 364-day bill at 7.62% (up 5 basis points). The rate shown is the average rate at which bills are allotted in the weekly auction.
At 7.62%, the 364-day rate is the highest in the 50 auctions of the past year.
A year earlier the 364-day bill cleared at 7.54%, so the government is paying 8 basis points more than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 7,620 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 107,620 after 12 months: ZAR 7,620 in interest before any withholding tax, about ZAR 635 a month.
That is ZAR 50 more than the same money would have earned at the previous auction.
For shorter money: ZAR 3,900 on the 182-day bill (6 months), ZAR 1,900 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 | 7.600% | 7.500% | — | — | — |
| 182-day | 7.800% | 7.650% | — | — | — |
| 364-day | 7.620% | 7.570% | — | — | — |
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, 15 December 2017, compiled from the South African Reserve Bank. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2017-12-15
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