BAKU, Azerbaijan, September 5
By Elnur Bagishov – Trend:
The checks exchanged in Iran increased by 15.4 percent in terms of number and 33 percent in terms of value in the 4th month of the current Iranian year (June 21-July 21, 2020) compared to the 3rd month (May 21-June 20, 2020), Trend reports citing the CBI.
According to the report, in total, about 9.1 million checks worth 2.04 quadrillion rials (about $48.9 billion) were exchanged in the fourth month.
"The checks exchanged in the 4th month were mainly registered in three provinces: Tehran (32.2 percent in terms of number, 51.8 percent in terms of value), Isfahan (10.4 percent in terms of number, 6.1 percent in terms of value) and Razavi Khorasan (7 in terms of number, 6 percent in terms of value 6 percent)," the report said.
According to the report, 8.2 million checks worth 1.85 quadrillion rials (about $44.2 billion) were received in Iran in the fourth month. This is an increase of 36.8 percent in terms of value and 17.4 percent in terms of number compared to the third month.
The CBI noted that about 874,000 checks worth 195 trillion rials (about $4.64 billion) were returned in the fourth month. The returned checks increased by 4.9 percent in terms of value and 0.8 percent in terms of number.
"The reason for the return of checks is the lack of available funds or a deficit. Thus, the checks 96.9 percent in terms of number and 94.7 percent in terms of value were returned due to lack of available funds or deficit," the report added.