BAKU, Azerbaijan, January 22. More than 7.9 million bank checks worth 5.25 quadrillion rials (about $125 billion) were exchanged in Iran in the 9th month of the current Iranian year (November 22 through December 21, 2023), Trend reports.
Data from Iran’s Central Bank shows an increase of 1 percent in value and a decrease of 0.1 percent in number compared to the 8th month (October 23 through November 21, 2023).
During the 9th month, about 7.3 million checks worth 4.59 quadrillion rials (about $109 billion) were received in the country.
Also, 637,000 checks worth approximately 659 trillion rials (about $15.7 billion) bounced by the country’s bank in the specified month.
The reason for the bounce of checks was the lack of available funds.
Over the previous Iranian year (March 21, 2022 through March 20, 2023), a check exchange system was established in Iran. Under the mentioned system, banks can assess the authenticity of checks handed over to them online.
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