BAKU, Azerbaijan, May 30. In total, 5.2 million bank checks worth about 1.84 quadrillion rials (about $43.7 billion) were exchanged in Iran for the 1st month of the current Iranian year (March 21 through April 20, 2022), Trend reports via the report of the Central Bank of Iran (CBI).
"The checks exchanged in the 1st month were mainly registered in Iran’s Tehran Province (30 percent in number, 48.9 percent in value), Isfahan Province (10.4 percent in number,7.2 percent in terms of value), Razavi Khorasan Province (7.8 percent in number, 5.7 percent in value)," the statistics said.
According to the statistics, more than 4.7 million checks worth 1.63 quadrillion rials (about $63.4 billion) were received in Iran in the 1st month.
The CBI noted that over 471,000 checks worth about 207 trillion rials (about $4.92 billion) bounced in the 1st month.
The reason for the bounce of checks was the lack of available funds. Thus, 457,000 checks worth 199 trillion rials (about $4.74 billion) bounced for these reasons in the 1st month.
"The checks 96.6 percent in value and 96.9 in number were bounced due to lack of available funds or deficit," the statistics said.
Follow the author on Twitter: @BaghishovElnur