Uganda Treasury bills · auction of 11 April 2019
Uganda T-bill auction, 11 April 2019: 364-day at 11.45%, down 100 bps
At the Treasury bill auction dated 11 April 2019, the Bank of Uganda cleared the 91-day bill at 9.27% (down 107 basis points), the 182-day bill at 10.57% (down 113 basis points) and the 364-day bill at 11.45% (down 100 basis points). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 307.0bn against UGX 170.0bn on offer, 181% of the amount sought, and UGX 170.0bn was accepted.
Over the past year the 364-day rate has ranged from 9.86% to 14.50%.
A year earlier the 364-day bill cleared at 9.04%, so the government is paying 241 basis points more than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,145,200 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 11,145,200 after 12 months: UGX 1,145,200 in interest before any withholding tax, about UGX 95,433 a month.
That is UGX 99,600 less than the same money would have earned at the previous auction.
For shorter money: UGX 528,450 on the 182-day bill (6 months), UGX 231,850 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 11,145,200 baada ya miezi 12: riba ya UGX 1,145,200 kabla ya kodi yoyote ya zuio, yaani takriban UGX 95,433 kwa mwezi.
Hiyo ni UGX 99,600 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 | 9.274% | 10.344% | UGX 10.00bn | UGX 22.24bn | UGX 10.00bn |
| 182-day | 10.569% | 11.699% | UGX 25.00bn | UGX 31.77bn | UGX 25.00bn |
| 364-day | 11.452% | 12.448% | UGX 135.00bn | UGX 253.01bn | UGX 135.00bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 11 April 2019, compiled from the Bank of Uganda. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2019-04-11
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