Uganda Treasury bills · auction of 18 June 2020
Uganda T-bill auction, 18 June 2020: 364-day at 11.75%, down 75 bps
At the Treasury bill auction dated 18 June 2020, the Bank of Uganda cleared the 91-day bill at 8.24% (down 53 basis points), the 182-day bill at 9.42% (down 158 basis points) and the 364-day bill at 11.75% (down 75 basis points). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 290.6bn against UGX 145.0bn on offer, 200% of the amount sought, and UGX 103.9bn was accepted.
A year earlier the 364-day bill cleared at 11.55%, so the government is paying 20 basis points more than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,174,800 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 11,174,800 after 12 months: UGX 1,174,800 in interest before any withholding tax, about UGX 97,900 a month.
That is UGX 75,200 less than the same money would have earned at the previous auction.
For shorter money: UGX 471,200 on the 182-day bill (6 months), UGX 206,000 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 11,174,800 baada ya miezi 12: riba ya UGX 1,174,800 kabla ya kodi yoyote ya zuio, yaani takriban UGX 97,900 kwa mwezi.
Hiyo ni UGX 75,200 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 | 8.240% | 8.771% | UGX 10.00bn | UGX 7.97bn | UGX 6.60bn |
| 182-day | 9.424% | 11.001% | UGX 20.00bn | UGX 72.95bn | UGX 18.96bn |
| 364-day | 11.748% | 12.500% | UGX 115.00bn | UGX 209.72bn | UGX 78.34bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 18 June 2020, compiled from the Bank of Uganda. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2020-06-18
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