What do you know about reconciliation. Explain the meaning of Nostro & Vostro Accounts.

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Reconciliation involves comparing two sets of records to ensure they are in agreement. Nostro and Vostro accounts are accounts held by banks on behalf of each other.

Reconciliation is the process of comparing two sets of records to ensure they are in agreement.
Nostro accounts are accounts held by a bank in a foreign currency at another bank.
Vostro accounts are accounts held by a foreign bank in the local currency at a domestic bank.
Reconciliation Analysts are responsible for identifying and resolving discrepancies in financial records.
Examples of reconciliation include matching bank statements with internal records or verifying inventory levels with sales records.

What do you know about reconciliation. Explain the meaning of Nostro & Vostro Accounts.

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What do you know about reconciliation. Explain the meaning of Nostro &amp; Vostro Accounts.

Popular interview questions of Reconciliation Analyst

Top HR questions asked in Citicorp Reconciliation Analyst

What do you know about reconciliation. Explain the meaning of Nostro & Vostro Accounts.