Multiple Choice Questions on The term 39 loro account 39 means ........ for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

The term 39 loro account 39 means ........

Economics- Phase (I & II) Balance of Payment and Foreign Exchange Markets
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    The term 'loro account' means

    our account with you

    Incorrect Answer

    your account with us

    Incorrect Answer

    their account with them

    Correct Answer

    none of the above

    Incorrect Answer
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    Explanation:

    A loro account is the term used by a correspondent to describe an account held on behalf of a foreign credit institution; the foreign credit institution would in turn regard this account as its nostro account.

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