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Central Bank sees increase in number, value of checks exchanged in Iran

Finance Materials 31 July 2022 11:34 (UTC +04:00)
Central Bank sees increase in number, value of checks exchanged in Iran
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, July 31. In total, 6.8 million bank checks worth 3.42 quadrillion rials (about $81.5 billion) were exchanged in Iran for the 3rd month of the current Iranian year (May 22 through June 21, 2022), Trend reports via the report of the Central Bank of Iran (CBI).

According to the statistics, this is an increase of 24.9 percent in value and 7.7 percent in number, compared to the 2nd month (April 21 through May 21, 2022).

"The checks exchanged in the 3rd month were mainly registered in Iran’s Tehran Province (31.9 percent in number, 51.7 percent in value), Isfahan Province (10.8 percent in number,6.8 percent in terms of value), Razavi Khorasan Province (7.2 percent in number, 5.2 percent in value)," the statistics said.

According to the statistics, more than 6.1 million checks worth 3.05 quadrillion rials (about $72.6 billion) were received in Iran in the 3rd month. This is an increase of 27 percent in value and 8.1 percent in number, compared to the 2nd month.

The CBI noted that 640,000 checks worth about 374 trillion rials (about $8.9 billion) bounced in the 3rd month, which is an increase of 9.5 percent in value and 4.6 percent in number, compared to the second month.

The reason for the bounce of checks was the lack of available funds. Thus, 621,000 checks worth 361 trillion rials (about $8.59 billion) bounced for these reasons in the 3rd month.

"The checks 96.7 percent in value and 96.9 in number were bounced due to lack of available funds or deficit," the statistics said.

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