Uganda Treasury bills · auction of 8 November 2018
Uganda T-bill auction, 8 November 2018: 364-day at 13.50%, down 45 bps
At the Treasury bill auction dated 8 November 2018, the Bank of Uganda cleared the 91-day bill at 10.80% (down 20 basis points), the 182-day bill at 12.40% (down 17 basis points) and the 364-day bill at 13.50% (down 45 basis points). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 568.4bn against UGX 195.0bn on offer, 292% of the amount sought, and UGX 195.0bn was accepted.
Over the past year the 364-day rate has ranged from 9.04% to 14.50%.
A year earlier the 364-day bill cleared at 9.31%, so the government is paying 419 basis points more than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,350,100 in 12 months on the 364-day bill
Put UGX 10,000,000 into the 364-day bill at this auction and you get back UGX 11,350,100 after 12 months: UGX 1,350,100 in interest before any withholding tax, about UGX 112,508 a month.
That is UGX 44,900 less than the same money would have earned at the previous auction.
For shorter money: UGX 620,000 on the 182-day bill (6 months), UGX 270,000 on the 91-day bill (3 months).
The government pays the full amount at maturity; the risk is Uganda’s government not paying, and the money is locked until then.
Kwa Kiswahili
Ukiweka UGX 10,000,000 kwenye hati ya siku 364 kwa riba ya mnada huu, utarudishiwa UGX 11,350,100 baada ya miezi 12: riba ya UGX 1,350,100 kabla ya kodi yoyote ya zuio, yaani takriban UGX 112,508 kwa mwezi.
Hiyo ni UGX 44,900 pungufu ya kiasi ambacho pesa hiyo hiyo ingepata kwenye mnada uliopita.
Serikali hulipa yote mwishoni mwa muda; hatari ni serikali kushindwa kulipa, na pesa haipatikani hadi muda uishe.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 10.800% | 10.999% | UGX 15.00bn | UGX 44.69bn | UGX 15.00bn |
| 182-day | 12.400% | 12.574% | UGX 35.00bn | UGX 85.06bn | UGX 35.00bn |
| 364-day | 13.501% | 13.950% | UGX 145.00bn | UGX 438.70bn | UGX 145.00bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 8 November 2018, compiled from the Bank of Uganda. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2018-11-08
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