The Central Bank of Kenya (CBK) has a forex warning to traders and the public against handling unlicensed and unregulated on-line forex sellers. Forex The exchange rate released by the Central Bank of Kenya is an indicative rate, meant to help those exchanging currencies gauge the value of the shilling on any given day. The Central Bank does not set the exchange rate; it is determined by the market, or supply and demand. Forex Trading in Kuwait with CBK Regulated Brokers. Kuwait is a country in the Middle East that has a highly stable economy and an impressive national currency that is highly valued against most currencies in the global financial markets. The Financial Markets department compiles indicative foreign exchange rates daily for use by the general public. These rates reflect the average buying and selling rates of the major participants in the foreign exchange market at the open of trade every day, thus providing a good indicator for any interested party on the value of the shilling on any particular day. The CBK press release warns that against “unregulated entities styling themselves as online foreign exchange (forex) brokers and traders”. Further stating that these fraudulent brokers “seek to exploit Kenyans and pose Money Laundering and Financing of Terrorism risks to the financial sector” .
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