Uganda Treasury bills · auction of 6 July 2023
Uganda T-bill auction, 6 July 2023: 364-day at 12.00%, unchanged
At the Treasury bill auction dated 6 July 2023, the Bank of Uganda cleared the 91-day bill at 9.83% (up 83 basis points), the 182-day bill at 10.71% (unchanged) and the 364-day bill at 12.00% (unchanged). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 570.6bn against UGX 255.0bn on offer, 224% of the amount sought, and UGX 310.4bn was accepted.
Over the past year the 364-day rate has ranged from 11.70% to 15.50%.
A year earlier the 364-day bill cleared at the same 12.00%.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,200,000 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 11,200,000 after 12 months: UGX 1,200,000 in interest before any withholding tax, about UGX 100,000 a month.
That is the same as at the previous auction.
For shorter money: UGX 535,650 on the 182-day bill (6 months), UGX 245,725 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 11,200,000 baada ya miezi 12: riba ya UGX 1,200,000 kabla ya kodi yoyote ya zuio, yaani takriban UGX 100,000 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 | 9.829% | 9.002% | UGX 25.00bn | UGX 50.21bn | UGX 13.61bn |
| 182-day | 10.713% | 10.713% | UGX 50.00bn | UGX 165.73bn | UGX 43.68bn |
| 364-day | 12.000% | 12.000% | UGX 180.00bn | UGX 354.65bn | UGX 253.15bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 6 July 2023, compiled from the Bank of Uganda. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2023-07-06
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