Bouncing cheques in Iran valued at $1.3 b in April

Business Materials 7 June 2011 18:19 (UTC +04:00)

Azerbaijan , Baku, June 7 / Trend/

The rate of bouncing cheques in Iran increased by 9.11 percent in current solar year (started on March 20, 2011), daily Donya-e Eqtesad reported.

The Central Bank of Iran reported increase in rate of bouncing cheques to $1.3 billion in value compared to previous solar year (ends March 20, 2011).

The CBI said 7.2 million cheques worth $36.5 billion were traded, while $1.3 million were bounced.

The number of bouncing cheques in April increased by 8.8 percent compared to last year.

The Central Bank of Iran reported every 11th of the cheques were bouncing .