Central Bank of Iran records increase in number, value of checks exchanged countrywide

Finance Materials 27 April 2022 19:29 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, April 27. Over 7 million bank checks worth about 2.99 quadrillion rials (about $71.3 billion) were exchanged in Iran in the 12th month of the last Iranian year (February 20 through March 20, 2022), Trend reports via the report of the Central Bank of Iran (CBI).

According to the statistics, this is an increase of 12.6 percent in value and 11 percent in number, compared to the 11th month of the last Iranian year (January 21 through February 19, 2022).

"The checks exchanged in the 12th month were mainly registered in Iran’s Tehran Province (33 percent in number, 52.2 percent in value), Isfahan Province (10.8 percent in number,7 percent in terms of value), Razavi Khorasan Province (7.3 percent in number, 4.9 percent in value)," the statistics said.

According to the statistics, more than 6.4 million checks worth 2.66 quadrillion rials (about $63.4 billion) were received in Iran in the 12th month. This is an increase of 14.2 percent in value and 11.2 percent in number, compared to the 11th month.

The CBI noted that over 622,000 checks worth about 331 trillion rials (about $7.88 billion) bounced in the 12th month.

The bounced checks increased by 1.2 percent in value, and 9.6 percent in number, compared to the 11th month.

The reason for the bounce of checks was the lack of available funds. Thus, 603,000 checks worth 319 trillion rials (about $7.59 billion) bounced for these reasons in the 12th month.

"The checks 96.6 percent in value and 97 in number were bounced due to lack of available funds or deficit," the statistics said.


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