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Number and value of exchanged checks in Iran increases

Finance Materials 19 June 2021 23:24 (UTC +04:00)
Number and value of exchanged checks in Iran increases

BAKU, Azerbaijan, June 19

By Elnur Baghishov – Trend:

About 7.5 million checks worth 1.94 quadrillion rials (about $46.2 billion) were exchanged in Iran in the 2nd month of the current Iranian year (April 21 through May 21, 2021), Trend reports citing the Central Bank of Iran.

According to the statistics, the exchanged checks increased by 7.6 percent in terms of number and by 31.3 percent in terms of value compared to the 1st month of the current Iranian year (March 21 through April 20, 2021).

"The checks exchanged in the 2nd month were mainly registered in Iran’s Tehran Province (29 percent in terms of number, 48 percent in terms of value), Isfahan Province (11.1 percent in terms of number, 7.1 percent in terms of value), Razavi Khorasan Province (7.7 percent in terms of number, 6 percent in terms of value)," the statistics said.

According to the statistics, 6.8 million checks worth 1.71 quadrillion rials (about $40.7 billion) were received in Iran in the 2nd month. This is an increase of 6.7 percent in terms of number and 29.5 percent in terms of value compared to the 1st month.

The CBI noted that about 670,000 checks worth 232 trillion rials (about $5.52 billion) were returned in the 2nd month.

The returned checks increased by 17.8 percent in terms of number and by 46.3 percent in terms of value compared to the 1st month.

The reason for the return of checks is the lack of available funds or a deficit. Thus, 648,000 checks worth 223 trillion rials (about $5.3 billion) were returned in Iran for these reasons in the 2nd month.

"The checks 96.7 percent in terms of number and 96.2 in terms of value were returned due to lack of available funds or deficit," the statistics said.

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