Nostro accounts are not similar to deposit accounts— these demand deposit accounts are held in the currency of bank A’s existence, whereas Nostro account holds the balance in the currency of bank Q’s presence. Elaborate and explain Nostro, Vostro and Loro accounts with suitable illustration.
Nostro accounts are not similar to deposit accounts— these demand deposit accounts are held in the currency of bank A’s existence, whereas Nostro account holds the balance in the currency of bank Q’s presence. Elaborate and explain Nostro, Vostro and Loro accounts with suitable illustration.
Chapter17: The Management Of Cash And Marketable Securities
Section: Chapter Questions
Problem 1QTD
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Nostro accounts are not similar to deposit accounts— these demand deposit accounts are held in the currency of bank A’s existence, whereas Nostro account holds the balance in the currency of bank Q’s presence. Elaborate and explain Nostro, Vostro and Loro accounts with suitable illustration.
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