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Iran's CBI discloses number and value of exchanged checks

Finance Materials 3 March 2021 00:47 (UTC +04:00)
Iran's CBI discloses number and value of exchanged checks

BAKU, Azerbaijan, Mar. 3

By Elnur Baghishov – Trend:

About 8.4 million checks worth 1.88 quadrillion rials (about $44.8 billion) were exchanged in Iran in the 10th month of the current Iranian year (December 21, 2020 through January 19, 2021), Trend reports citing the Central Bank of Iran.

According to the statistics, the exchanged checks decreased by 10.7 percent in terms of number and increased by 1.4 percent in terms of value compared to the 9th month of the current Iranian year (November 21 through December 20, 2020).

"The checks exchanged in the 10th month were mainly registered in Iran’s Tehran Province (30.1 percent in terms of number, 48.7 percent in terms of value), Isfahan Province (11 percent in terms of number, 7.2 percent in terms of value), Razavi Khorasan Province (7.8 in terms of number, 6 percent in terms of value)," the statistics said.

According to the statistics, 7.8 million checks worth 1.67 quadrillion rials (about $39.9 billion) were received in Iran in the 10th month. This is a decrease of 9.4 percent in terms of number and an increase of 3.1 percent in terms of value compared to the 9th month.

The CBI noted that about 678,000 checks worth 209 trillion rials (about $4.97 billion) were returned in the 10th month.

The returned checks decreased by 24 percent in terms of number and by 10.5 percent in terms of value compared to the 9th month.

The reason for the return of checks is the lack of available funds or a deficit. Thus, 654,000 checks worth 200 trillion rials (about $4.76 billion) were returned to Iran for these reasons.

"The checks 96.4 percent in terms of number and 95.9 percent in terms of value were returned due to lack of available funds or deficit," the statistics said.

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