A worker at a foreign exchange currency bureau counts 1000 Ugandan shilling banknotes in Kampala, Uganda, on Wednesday, Aug. 16, 2023. Uganda’s central bank said it stands ready to act if the World Bank’s decision to halt new funding over the country’s passage of anti-LGBTQ legislation impacts the currency further. Photographer: Luke Dray/Bloomberg via Getty Images

KAMPALA, Sept 3 (Reuters) – The Ugandan shilling was broadly stable on Tuesday, although it was expected to weaken due to increased demand for dollars from general merchandise importers, traders said.

At 0740 GMT, commercial banks quoted the shilling at 3,720/3,730, compared with Monday’s closing rate of 3,718/3,728.

(Reporting by Elias Biryabarema; Editing by George Obulutsa)