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Number and value of exchanged checks in Iran up

Finance Materials 27 December 2021 11:05 (UTC +04:00)
Number and value of exchanged checks in Iran up

BAKU, Azerbaijan, Dec. 27

By Elnur Baghishov – Trend:

About 7.1 million checks worth about 2.5 quadrillion rials (about $59.6 billion) were exchanged in Iran in the 8th month of the current Iranian year (October 23 through November 21, 2021), Trend reports via the report of the Central Bank of Iran (CBI).

According to the statistics, the exchanged checks increased by 24.9 percent in value and by 30.2 percent in number, compared to the 7th month of the current Iranian year (September 23 through October 22, 2021).

"The checks exchanged in the 8th month were mainly registered in Iran’s Tehran Province (30.7 percent in number, 51.3 percent in value), Isfahan Province (10.9 percent in number,6.8 percent in terms of value), Razavi Khorasan Province (7.4 percent in number, 5.2 percent in value)," the statistics said.

According to the statistics, 6.4 million checks worth 2.2 quadrillion rials (about $52.4 billion) were received in Iran in the 8th month. This is an increase of 26.3 percent in value and 30 percent in number, compared to the 7th month.

The CBI noted that about 630,000 checks worth 305 trillion rials (about $7.26 billion) were returned in the 8th month.

The returned checks increased by 16.3 percent value, and 32.5 percent in number compared to the 7th month.

The reason for the return of checks is the lack of available funds or a deficit. Thus, 608,000 checks worth 294 trillion rials (about $7 billion) were returned in Iran for these reasons in the 8th month.

"The checks 96.5 percent both in value and number were returned due to lack of available funds or deficit," the statistics said.

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Follow the author on Twitter: @BaghishovElnur

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