Nostro Account

What Does Nostro Account Mean?
An account that a bank holds with a foreign bank.

Investopedia explains Nostro Account
Nostro accounts are usually in the currency of the foreign country. This allows for easy cash management because currency doesn't need to be converted.

Nostro is derived from the latin term "ours."

Filed Under: Banking, Forex

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Due To Account
Interbank Deposits
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