What are Nostro Accounts?


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Demand deposit accounts denominated in foreign currencies maintained by domestic
banks with banks overseas are called NOSTRO accounts. Nostro means ‘our account with
you’.
Ex : If Bank of India, Mumbai has a US Dollar account with Citibank, New York then such
an account would be called a NOSTRO account.


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MT UVA- University, Vocational and Affiliated Education for BMS

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