Word forms: (regular plural) nostro accounts
nounWord origins Latin wordsSeveral other financial terms include Latin words. A vostro account is an account that a domestic bank holds for another foreign bank in the domestic
bank's currency."Vostro" is from the Latin "voster", meaning "your".Ad valorem is an adjective that describes a tax charged at the estimated value of the goods
being charged, and is the Latin for "according to value", and in the phrase cum dividend, "cum" means "with", so investors who buy shares cum dividend are entitled to a recently
issued dividend. ( Finance : Banking ) vostro account
A nostro account
is an account that a bank holds
with another bank in a foreign country
in the foreign currency.
A nostro account is maintained by an Indian Bank in the foreign countries for the easy clearing of
If the bank pays a demand drawn on it by its correspondent bank, the correspondent
bank credits the nostro account of the paying bank while issuing the demand draft.
A nostro account is an account that a bank holds with another bank in a foreign country in the foreign
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