BAKU, Azerbaijan, April 5
By Elnur Baghishov - Trend
Checks exchanged in Iran have increased by 1.6 percent in terms of number and 10.3 percent in terms of amount in the 11th month of the last Iranian year (January 21, 2020 -February 19, 2020) compared to the 10th month (December 21, 2019 to January 20, 2020), reads the statement by Central Bank of Iran (CBI), Trend reports citing CBI.
According to the report, in general, 8.6 million checks worth 1.21 quadrillion rials (about $29 billion) were exchanged in the 11th month of last Iranian year.
Checks exchanged were registered mainly in three provinces in the 11th month of last Iranian year. Tehran (33.7 percent in terms of number, 51.7 percent in terms of amount), Isfahan (10.4 percent in terms of number, 6.4 percent in terms of amount) and Razavi Khorasan (7.9 percent in number, 6 percent in amount) are among these provinces.
More than 7.8 million checks worth 1.1 quadrillion rials (about $26.2 billion) were received in 11th month of last Iranian year.This means an increase of 1.5 percent in terms of amount and 11 percent in terms of number compared to the 10th month of last Iranian year.
CBI reported that about 719,000 checks worth 116 trillion rials (about $2.76 billion) were returned in the 11th month of last Iranian year. Return checks increased by 4.1 percent in terms of amount and 3.6 percent in terms of number.
According to the report, the reason for the return of checks is the lack of available funds or a deficit in the account.Thus, 96.2 percent of checks in terms of number and 95.2 percent of checks in terms of amount were returned due to lack of available funds or deficit.