Our website has detected that you are using an outdated browser that will prevent you
from accessing
certain features. An upgrade is recommended to improve you browsing experience.
New interest rate benchmark for observation by market participants
Published Date:
2022-11-02
Last Modified Date:
2024-09-10, 12:44 PM
Category:
Financial Markets > FMD-MediaReleases | Media > Media Releases | What's New | Market Practitioners Group > MPG Media Releases
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.