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, July 15 (Reuters) – The Ugandan shilling was unchanged against the dollar on Monday on the back of a slump in demand as most firms reserved their local currency holdings for mid-month taxes, traders said.

At 0854 GMT commercial banks quoted the shilling at 3,695/3,705, the same level as Friday’s close.

(Reporting by Elias Biryabarema; Editing by Hereward Holland)