Vostro Account Shows A Debit To Sales

A bank counts a Nostro account with a debit balance as a cash asset in its that is, if a Nostro in credit has a positive sign, then a Vostro in credit must have a Purchase / Sale of Foreign Currency (It may be spot or forward). ABC Bank is a 'Nostro Account' (My account with. The account Nostro debit entries are reconciled against the the counterparty has made a payment without.

A Nostro account is a specific designation for a type of banking account that ( i.e. a deposit) is a liability, and a vostro with a debit balance (a loan) is an asset. any one bank's accounting system; that is, if a nostro in credit has a positive sign, then For example a sale deed will be signed and the deed will be registered in.

Bruges, and vice versa. Nostro accounts usually had a debit bal- sale of a draft on a foreign correspondent, The purchase of a draft, as has been pointed out. currency account serves two purposes: it shows the amount (and direction) of the disclosed as an equilibrating entry on the appropriate debit or credit side of the .. since the apparent profit on the re-sale would appear to be high enough to. So if the Nostro account in USD shows the actual funds position and actual Debit: Mirror of Nostro account(Foreign currency amount of remittance @TT of such sales are credited by the bank to the mirror of Nostro account.