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Number and value of exchanged checks in Iran down

Business Materials 4 September 2021 23:15 (UTC +04:00)
Number and value of exchanged checks in Iran down

BAKU, Azerbaijan, Sept. 4

By Elnur Baghishov – Trend:

About 6.1 million checks worth 1.93 quadrillion rials (about $46 billion) were exchanged in Iran in the 4th month of the current Iranian year (June 22 through July 22, 2021), Trend reports citing the Central Bank of Iran (CBI).

According to the statistics, the exchanged checks decreased by 23.4 percent in terms of number and by 13.2 percent in terms of value compared to the 3rd month of the current Iranian year (May 22 through June 21, 2021).

"The checks exchanged in the 4th month were mainly registered in Iran’s Tehran Province (28.5 percent in terms of number, 49.5 percent in terms of value), Isfahan Province (11.2 percent in terms of number, 7.3 percent in terms of value), Razavi Khorasan Province (7.2 percent in terms of number, 5.3 percent in terms of value)," the statistics said.

According to the statistics, 5.5 million checks worth 1.7 quadrillion rials (about $40.5 billion) were received in Iran in the 4th month. This is a decrease of 22.9 percent in terms of number and 12.5 percent in terms of value compared to the 3rd month.

The CBI noted that about 560,000 checks worth 229 trillion rials (about $5.45 billion) were returned in the 4th month.

The returned checks decreased by 27.5 percent in terms of number and by 18.2 percent in terms of value compared to the 3rd month.

The reason for the return of checks is the lack of available funds or a deficit. Thus, 541,000 checks worth 219 trillion rials (about $5.21 billion) were returned in Iran for these reasons in the 4th month.

"The checks 95.9 percent in terms of number and 96.7 in terms of value were returned due to lack of available funds or deficit," the statistics said.

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Follow the author on Twitter: @BaghishovElnur

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