Uganda Treasury bills · auction of 10 September 2020
Uganda T-bill auction, 10 September 2020: 364-day at 12.10%, unchanged
At the Treasury bill auction dated 10 September 2020, the Bank of Uganda cleared the 91-day bill at 7.98% (down 25 basis points), the 182-day bill at 9.76% (down 2 basis points) and the 364-day bill at 12.10% (unchanged). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 424.7bn against UGX 245.0bn on offer, 173% of the amount sought, and UGX 348.5bn was accepted.
Over the past year the 364-day rate has ranged from 11.75% to 12.50%.
A year earlier the 364-day bill cleared at 11.55%, so the government is paying 55 basis points more than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,210,100 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 11,210,100 after 12 months: UGX 1,210,100 in interest before any withholding tax, about UGX 100,842 a month.
That is the same as at the previous auction.
For shorter money: UGX 488,000 on the 182-day bill (6 months), UGX 199,425 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 11,210,100 baada ya miezi 12: riba ya UGX 1,210,100 kabla ya kodi yoyote ya zuio, yaani takriban UGX 100,842 kwa mwezi.
Ni sawa na 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 | 7.977% | 8.227% | UGX 15.00bn | UGX 32.63bn | UGX 30.29bn |
| 182-day | 9.760% | 9.780% | UGX 35.00bn | UGX 61.94bn | UGX 57.91bn |
| 364-day | 12.101% | 12.101% | UGX 195.00bn | UGX 330.15bn | UGX 260.26bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 10 September 2020, compiled from the Bank of Uganda. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2020-09-10
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