Challenger App

No.1 PSC Learning App

1M+ Downloads
In international banking, a Vostro account is mainly used by foreign banks to:

AEarn interest on domestic deposits

BConduct local transactions in domestic currency

CExchange currencies with customers

DTrack foreign bank Nostro balances

Answer:

B. Conduct local transactions in domestic currency

Read Explanation:

.


Related Questions:

Which of these cards works on the VISA network?
When a cheque is specially crossed to more than one banker, it is called ---.
Which country launched the first mobile banking service in the world?
What is the primary purpose of an NRO account?
Which of the following services is allowed for Small Finance Banks but not for Payment Banks?