Uganda Treasury bills · auction of 18 July 2024
Uganda T-bill auction, 18 July 2024: 364-day at 13.50%, unchanged
At the Treasury bill auction dated 18 July 2024, the Bank of Uganda cleared the 91-day bill at 9.50% (down 43 basis points), the 182-day bill at 12.60% (unchanged) and the 364-day bill at 13.50% (unchanged). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 960.8bn against UGX 355.0bn on offer, 271% of the amount sought, and UGX 546.8bn 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 12.00%, so the government is paying 150 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 the same as at the previous auction.
For shorter money: UGX 630,050 on the 182-day bill (6 months), UGX 237,525 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.
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 | 9.501% | 9.926% | UGX 25.00bn | UGX 87.19bn | UGX 51.19bn |
| 182-day | 12.601% | 12.601% | UGX 75.00bn | UGX 150.93bn | UGX 70.93bn |
| 364-day | 13.501% | 13.501% | UGX 255.00bn | UGX 722.69bn | UGX 424.64bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 18 July 2024, compiled from the Bank of Uganda. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2024-07-18
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