Tag: International Finance
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Finances and Technology in Business
Starting or Managing a Going Concern In the current economical climate starting a new business or managing a well established business can be a very daunting prospect. It helps to have your finances in good order to ensure you have enough capital to tick over and keep your head above water. If you start a…
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Bretton Woods System: The Monetary and Exchange Rate Management
The Bretton Woods System is the monetary and exchange rate management system. Representatives of 45 major economies met at Bretton Woods, USA, in July 1944 to finalize a new Exchange Rate System based on the stability and flexibility to be universally implemented after the Second World War. Deliberation during this meeting resulted in the formation…
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VOSTRO Accounts
Demand deposit account, denominated in domestic currency maintained by overseas banks with domestic banks are called as VOSTRO Accounts. VOSTRO Means “Your Account with Us”. Example: Any overseas bank like Bridge Bank has a INR account with Bank of Baroda, India then such account is called as VOSTRO Account.
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NOSTRO Accounts
Demand deposit account, denominated in foreign currency maintained by domestic banks with overseas banks are called as NOSTRO Accounts. NOSTRO Means “Our Account with You”. Example: Any domestic bank like Bank of India has a US Dollar account with ICICI Bank then such account is called as NOSTRO Account.