South Africa Treasury bills · auction of 25 October 2019
South Africa T-bill auction, 25 October 2019: 91-day at 6.90%, up 6 bps
At the Treasury bill auction dated 25 October 2019, the South African Reserve Bank cleared the 91-day bill at 6.90% (up 6 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 6.74% to 7.61%.
A year earlier the 91-day bill cleared at 7.23%, so the government is paying 33 basis points less than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 1,725 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 101,725 after 3 months: ZAR 1,725 in interest before any withholding tax, about ZAR 575 a month.
That is ZAR 15 more 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 | 6.900% | 6.840% | — | — | — |
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, 25 October 2019, compiled from the South African Reserve Bank. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2019-10-25
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