South Africa Treasury bills · auction of 26 July 2019
South Africa T-bill auction, 26 July 2019: 91-day at 6.99%, up 3 bps
At the Treasury bill auction dated 26 July 2019, the South African Reserve Bank cleared the 91-day bill at 6.99% (up 3 basis points) and the 182-day bill at 7.03% (up 3 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 6.96% to 7.61%.
A year earlier the 91-day bill cleared at 7.06%, so the government is paying 7 basis points less than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 3,515 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 103,515 after 6 months: ZAR 3,515 in interest before any withholding tax, about ZAR 586 a month.
That is ZAR 15 more than the same money would have earned at the previous auction.
For shorter money: ZAR 1,748 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 | 6.990% | 6.960% | — | — | — |
| 182-day | 7.030% | 7.000% | — | — | — |
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, 26 July 2019, compiled from the South African Reserve Bank. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2019-07-26
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