Ugandan shilling and US dollars in the draw at a foreign exchange currency bureau 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, Aug 13 (Reuters) – The Ugandan shilling traded stable on Tuesday, with demand for hard currency subdued as some firms reserved a part of their local currency holdings for mid-month tax payments, traders said.

At 0914 GMT commercial banks quoted the shilling at 3,725/3,735, the same level as Monday’s close.

(Reporting by Elias Biryabarema; Editing by Hereward Holland)