...

Iran's Central Bank announces number of exchanged checks

Finance Materials 30 November 2020 14:03 (UTC +04:00)
Iran's Central Bank announces number of exchanged checks

BAKU, Azerbaijan, Nov. 30

By Elnur Baghishov – Trend:

About 8.9 million checks worth 2.17 quadrillion rials (about $51.7 billion) were exchanged in Iran in the 7th month of the current Iranian year (September 22 through October 21, 2020), Trend reports citing the Central Bank of Iran.

According to the statistics, the exchanged checks decreased by 5.8 percent in terms of number and increased by 6.9 percent in terms of value compared to the 6th month of current Iranian year (August 22 through September 21, 2020).

"The checks exchanged in the 7th month were mainly registered in three provinces: Tehran (30.5 percent in terms of number, 48.9 percent in terms of value), Isfahan (10.5 percent in terms of number, 6.4 percent in terms of value) and Razavi Khorasan (7.8 percent in terms of number, 6 percent in terms of value)," the statistics said.

According to the statistics, 8.1 million checks worth 1.96 quadrillion rials (about $46.6 billion) were received in Iran in the seventh month. This is a decrease of 4.8 percent in terms of number and an increase of 7.1 percent in terms of value compared to the sixth month.

The CBI noted that about 734,000 checks worth 214 trillion rials (about $5.09 billion) were returned in the 7th month. The returned checks decreased by 15 percent in terms of number and increased by 4.5 percent in terms of value compared to the 6th month.

The reason for the return of checks is the lack of available funds or a deficit. Thus, 706,000 checks worth 203 trillion rials (about $4.83 billion) were returned in Iran for these reasons.

"The checks 96.1 percent in terms of number and 95.1 percent in terms of value were returned due to lack of available funds or deficit," the statistics said.

Tags:
Latest

Latest