FOREX CHANNEL > Forex glossary > Nostro Account
*Japanese Nostro Account
Forex dealing
 
Nostro Account


Needless to say, the forex requires many current accounts overseas because the banks need to deliver or settle the foreign currencies every day. They call all overseas account in which a bank would receive the relevant currencies he/she has bought as eNostro Account'. According to the forex market practice, a bank who has bought the currency has to tell the Nostro Account to the counterparty.
 
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