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English definition of “nostro account”

nostro account

noun [C]
 
 
BANKING an account that a bank keeps for itself in a bank in another country, usually in that country's currency: Nostro accounts are maintained by Indian banks in foreign countries where they have operations for facilitating easy clearing of their transactions. →  Compare vostro account
(Definition of nostro account from the Cambridge Business English Dictionary © Cambridge University Press)
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