Eswatini Treasury Bill Rates Today
Current Eswatini Treasury bill rates from Central Bank of Eswatini, plus how 91-day, 182-day, 273-day and 364-day bills work and how investors can access them.
Current Eswatini Treasury Bill Rates
As of July 15, 2026, the latest official Eswatini Treasury bill curve is shown below. Rates are dated auction observations in SZL; the page never substitutes a manually typed rate, bond coupon or price.
Source: Central Bank of Eswatini auction results. Full dated dataset: Eswatini bond market.
What Are Treasury Bills in Eswatini?
Eswatini Treasury bills are short-term government securities issued or administered through Central Bank of Eswatini. The standard market includes 91-day, 182-day, 273-day and 364-day, with investors receiving the maturity value after buying the bill at the auction or secondary-market price.
The Central Bank of Eswatini publishes average discount rates and competitive yields for four bill tenors. The lilangeni is linked at par with the South African rand, but Eswatini bills remain domestic sovereign obligations denominated in SZL.
Local terminology: Treasury bills, average competitive yield, lilangeni and Common Monetary Area. The official yield convention matters: discount rate, effective yield and weighted average yield are related but not interchangeable.
How to Buy Treasury Bills in Eswatini
Investors can ask an authorised commercial bank or securities intermediary about access to the domestic auction or secondary market. The order documentation should identify the bill tenor, settlement amount, maturity value and applicable charges.
Choose a regulated channel
Use an authorised bank, dealer, broker or official depository route that can identify the security and explain its fees.
Select the maturity
Compare the available 91-day, 182-day, 273-day and 364-day bills using the same yield convention and a maturity that fits your cash needs.
Confirm price and settlement
Ask for the amount paid today, the maturity value, settlement date, charges and treatment if you need to sell before maturity.
Keep the allotment record
Retain the security reference, settlement confirmation and maturity instructions; verify that proceeds reach the nominated account.
How Treasury Bill Returns Work
Treasury bills are commonly issued at a discount: the investor pays less than the maturity value and receives the full face value when the bill matures. The cash gain is the maturity value minus the purchase amount, before fees and taxes.
An annualised auction rate is not the same as the percentage cash gain over a three- or six-month holding period. Investors should compare effective yields calculated on the same basis and confirm whether the published field is a discount rate, accepted yield or weighted average yield.
Recent Eswatini Treasury Bill Auctions
Dated primary-market results. Amounts are shown in millions of SZL where the official release supplies them.
| Auction date | Tenor | Yield | Offered | Allotted |
|---|---|---|---|---|
| July 15, 2026 | 91-day | 7.1000% | 10m SZL | 16.8m SZL |
| July 15, 2026 | 182-day | 8.4500% | 20m SZL | 20.3m SZL |
| July 15, 2026 | 273-day | 8.8500% | 30m SZL | 12.5m SZL |
| July 15, 2026 | 364-day | 8.9750% | 30m SZL | 52.8m SZL |
| June 2, 2026 | 91-day | 7.1000% | 10m SZL | 14m SZL |
| June 2, 2026 | 182-day | 8.4000% | 20m SZL | 20.1m SZL |
| June 2, 2026 | 273-day | 8.8500% | 30m SZL | 41.8m SZL |
| June 2, 2026 | 364-day | 9.0500% | 30m SZL | 47.2m SZL |
| May 20, 2026 | 91-day | 7.1000% | 10m SZL | 16.3m SZL |
| May 20, 2026 | 182-day | 8.4000% | 20m SZL | 20.3m SZL |
| May 20, 2026 | 273-day | 8.8500% | 30m SZL | 0.2m SZL |
| May 20, 2026 | 364-day | 9.0500% | 30m SZL | 29.5m SZL |
Treasury Bills vs Savings, Fixed Deposits and Bonds
| Instrument | Typical term | Return | Main considerations |
|---|---|---|---|
| Treasury bill | One year or less | Discount or auction yield | Sovereign, inflation, currency and early-sale risk |
| Savings account | On demand | Bank deposit interest | Liquidity, bank terms and deposit-protection limits |
| Fixed deposit | Agreed bank term | Fixed deposit rate | Early-withdrawal penalty and bank credit exposure |
| Government bond | More than one year | Coupon plus price movement | Duration, market-price, inflation and liquidity risk |
Eswatini Treasury Bills FAQ
What are Eswatini Treasury bill rates today?
The latest validated Eswatini Treasury bill observations as of July 15, 2026 are 91-day: 7.1000%, 182-day: 8.4500%, 273-day: 8.8500%, 364-day: 8.9750%. Mansa Markets pulls these dated rates from Central Bank of Eswatini auction results; they are not manually entered estimates.
How can I buy Treasury bills in Eswatini?
Investors can ask an authorised commercial bank or securities intermediary about access to the domestic auction or secondary market. The order documentation should identify the bill tenor, settlement amount, maturity value and applicable charges. Access rules and minimum order sizes can change, so confirm the current requirements with a regulated institution before transferring money.
Are Eswatini Treasury bills risk free?
Eswatini Treasury bills are short-term obligations of the sovereign issuer and are generally treated as lower-credit-risk local-currency instruments. They are not free of inflation, currency, liquidity, reinvestment or sovereign risk, and selling before maturity can change the realised return.
What is the difference between a Treasury bill rate and return?
A quoted bill rate is an annualised auction measure, while the investor's cash return depends on the purchase price, maturity value, holding period, fees and tax treatment. Compare instruments using the same yield convention and maturity rather than comparing headline percentages alone.
How often do Eswatini Treasury bill rates change?
Eswatini rates can change at each regular Treasury bill auctions. Mansa Markets checks the official release pipeline and displays the underlying auction date, while this article is server-rendered on a six-hour cache window.