Uganda Treasury bills · auction of 20 June 2024
Uganda T-bill auction, 20 June 2024: 364-day at 13.50%, down 25 bps
At the Treasury bill auction dated 20 June 2024, the Bank of Uganda cleared the 91-day bill at 10.00% (up 100 basis points), the 182-day bill at 12.60% (down 10 basis points) and the 364-day bill at 13.50% (down 25 basis points). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 888.2bn against UGX 235.0bn on offer, 378% of the amount sought, and UGX 203.2bn was accepted.
Over the past year the 364-day rate has ranged from 12.00% to 13.75%.
A year earlier the 364-day bill cleared at 12.50%, so the government is paying 100 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 24,900 less than the same money would have earned at the previous auction.
For shorter money: UGX 630,050 on the 182-day bill (6 months), UGX 250,050 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 24,900 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 | 10.002% | 9.002% | UGX 15.00bn | UGX 84.86bn | UGX 10.98bn |
| 182-day | 12.601% | 12.697% | UGX 40.00bn | UGX 157.74bn | UGX 37.74bn |
| 364-day | 13.501% | 13.750% | UGX 180.00bn | UGX 645.57bn | UGX 154.47bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 20 June 2024, compiled from the Bank of Uganda. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2024-06-20
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