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what is Reconciliation-NOSTRO,VOSTRO?
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Answer Posted / pinkesh kansara
Nostro & Vostro both are latin word means our & yours
respectively.
In gerneral term,
Nostro is A/c you hold for another entity &
Vostro is A/c another entity holds for you.
Let understand it form bank or any AD point of view:
A nostro is our account of our money, hold by you &
A vostro is our account of your money, hold by us.
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