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    Question

    Which one is the name given to the foreign currency

    account maintained by a bank abroad
    A Nostro Account Correct Answer Incorrect Answer
    B Vostro Account Correct Answer Incorrect Answer
    C Loro Account Correct Answer Incorrect Answer
    D Foreign Account Correct Answer Incorrect Answer
    E None of the Above Correct Answer Incorrect Answer

    Solution

    A Nostro Account is an account denominated in a foreign currency established through local bank at a bank in the respective country of the currency desired. The terms "nostro" and "vostro" are derived from Latin terms meaning "ours" and "yours" respectively.

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