At the Treasury bill auction dated 1 October 2026, the Bank of Uganda cleared the 91-day bill at 9.70% (down 5 basis points), the 182-day bill at 10.75% (up 75 basis points) and the 364-day bill at 11.50% (up 50 basis points). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 573.7bn against UGX 350.0bn on offer, 164% of the amount sought, and UGX 356.8bn was accepted.
Over the past year the 364-day rate has ranged from 11.00% to 15.00%.
A year earlier the 364-day bill cleared at 15.25%, so the government is paying 375 basis points less than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,150,100 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 11,150,100 after 12 months: UGX 1,150,100 in interest before any withholding tax, about UGX 95,842 a month.
That is UGX 50,200 more than the same money would have earned at the previous auction.
For shorter money: UGX 537,550 on the 182-day bill (6 months), UGX 242,475 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 11,150,100 baada ya miezi 12: riba ya UGX 1,150,100 kabla ya kodi yoyote ya zuio, yaani takriban UGX 95,842 kwa mwezi.
Hiyo ni UGX 50,200 zaidi 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 | 9.699% | 9.749% | UGX 15.00bn | UGX 61.18bn | UGX 26.05bn |
| 182-day | 10.751% | 9.999% | UGX 35.00bn | UGX 64.68bn | UGX 19.93bn |
| 364-day | 11.501% | 10.999% | UGX 300.00bn | UGX 447.80bn | UGX 310.80bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 1 October 2026, compiled from the Bank of Uganda. Retrieved 4 November 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2026-10-01
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