By Our Reporter
NATIONAL/ECONOMY
Bank of Uganda has concluded the auctioning of Treasury Bills Issue No: 1177 whose total value was Shs235Billion.
In a press statement released today, 25th April, 2024, out of the total value of the Treasury bills that was Shs225Billion, Bank of Uganda accepted bids worth Shs181, 352,900,000.
Out of this Shs3,825,900,000 is from the 91 days maturity bills where the Bank had offered Shs15billion, Shs29,988,800,000 is from the 182 Maturity period bills where Shs40billion was offered. Shs147, 538,200,000 was eventually auctioned out of the Shs180billion offered for the 364 days Maturity period Treasury bills.
The accepted bids are lower than the offered despite the fact that tenders were over and above what was offered. For the 91 Days Maturity Period, the Bank received tenders worth Shs30, 700,000,000 that was twice the amount offered. For the 182 Days Maturity Period, the bank received Shs62, 988, 800,000 which was Shs20Billion over and above what was offered.
The bank also received Shs273, 438,200,000 tenders for the 364 Days Maturity bills yet the offer was Shs180 Billion.
Most of the Treasury bills have been bought by Primary Dealers (PDs) and other commercial banks. Bank of Uganda names the current Primary Dealers as; Absa Bank; Citi Bank; Centenary Bank; Dfcu Bank; Equity Bank; Housing Finance Bank; Stanbic Bank & Standard Chartered Bank.
For instance out of the Shs147, 538,200,000 (362 Days Maturity Bills) Shs144, 600, 000, 000 was bought by the Primary Dealers.
The Treasury bills were put up for sale on 24th April, 2024 with settlements being made the following day, 25th April.
