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Iran's CBI discloses number of exchanged checks

Finance Materials 2 February 2021 17:29
Iran's CBI discloses number of exchanged checks

BAKU, Azerbaijan, Feb. 2

By Elnur Baghishov – Trend:

About 9.5 million checks worth 1.86 quadrillion rials (about $44.2 billion) were exchanged in Iran in the 9th month of the current Iranian year (November 21 through December 20, 2020), Trend reports citing the Central Bank of Iran.

According to the statistics, the exchanged checks increased by 18 percent in terms of number and decreased by 2.2 percent in terms of value compared to the 8th month of the current Iranian year (October 22 through November 20, 2020).

“The checks exchanged in the 9th month were mainly registered in Iran’s Tehran Province (30.5 percent in terms of number, 48 percent in terms of value), Isfahan Province (10.9 percent in terms of number, 7 percent in terms of value), Razavi Khorasan Province (7.5 in terms of number, 6 percent in terms of value),” the statistics said.

According to the statistics, 8.6 million checks worth 1.62 quadrillion rials (about $38.7 billion) were received in Iran in the ninth month. This is an increase of 16.7 percent in terms of number and a decrease of 3.2 percent in terms of value compared to the eighth month.

The CBI noted that about 893,000 checks worth 233 trillion rials (about $5.54 billion) were returned in the 9th month.

The returned checks increased by 31.1 percent in terms of number and by 5.6 percent in terms of value compared to the 8th month.

The reason for the return of checks is the lack of available funds or a deficit. Thus, 864,000 checks worth 224 trillion rials (about $5.33 billion) were returned to Iran for these reasons.

"The checks 96.8 percent in terms of number and 96.2 percent in terms of value were returned due to lack of available funds or deficit," the statistics said.

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