BAKU, Azerbaijan, May 2. Checks exchanged in Iran increased by 15.9 percent in value and 9.2 percent in number in the 12th month of the last Iranian year (from February 20 through March 19, 2024) compared to the 11th month (from January 21 through February 19, 2024), the statistics of Iran's Central Bank said, Trend reports.
According to the report, checks exchanged in the 12th month amounted to more than 9.1 million worth about 6.93 quadrillion rials (about $165 billion) compared to the 11th month.
The statistic notes that the country received more than 8.3 million checks worth 6.11 quadrillion rials (about $146 billion) in the 12th month.
The data indicates that the 12th month saw the refund of 789,000 checks totaling 813 trillion rials, or about $19.4 billion. The refunded checks increased by 10.5 percent in value and 3.3 percent in number.
Meanwhile, the reason for refunding checks is a lack of available funds or a deficit.
Last year, Iran established a check exchange system. According to this system, banks can verify checks handed over to them in cash or non-cash online.
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