Q66
The bank account of a non-resident of a country, where the amount of currency in the account cannot be transferred to another country is called as
A.
Nostro account
B.
Blocked Account
AnswerC.
Foreign account
D.
Capital account
Answer: Option B
Solution
Answer: Option B
Solution:
The bank account of a non-resident of a country, where the amount of currency in the account cannot be transferred to another country is called as Blocked Account. A blocked account can be an account that is subject to foreign exchange controls in a country that restricts the amount of its currency that can be transferred to other countries or exchanged into other currencies.