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A foreign currency account maintained by a bank abroad is its
nostro account
vostro account
loro account
oreign bank account
A nostro account refers to an account that a bank holds in a foreign currency in another bank. Nostros, a term derived from the Latin word for "ours," are frequently used to facilitate foreign exchange and trade transactions. The opposite term "vostro accounts," derived from the Latin word for "yours," is how a bank refers to the accounts that other banks have on its books in its home currency.
By: honey kaundal ProfileResourcesReport error
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