New interest rate benchmark for observation by market participants
Last Modified Date:
2022-11-02, 03:13 PM
financial-markets > FMD-MediaReleases | Media > Media Releases | What's New
The South African Reserve Bank (SARB) today commenced publishing the South African Rand Overnight Index Average (ZARONIA), which is a financial benchmark that reflects the interest rate at which rand-denominated overnight wholesale funds are obtained by commercial banks. ZARONIA is based on actual transactions and calculated as a trimmed, volume-weighted mean of interest rates paid on eligible unsecured overnight deposits.