Meaning of “nostro account” in the English Dictionary


"nostro account" in Business English

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nostro accountnoun [ C ]

uk us

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.

(Definition of “nostro account” from the Cambridge Business English Dictionary © Cambridge University Press)