Bounced Checks in Decline

EghtesadOnline: The number and value of bounced checks from all checks has continued to decrease for another month, the Central Bank of Iran announced.

News ID: ۷۸۱۸۲۰

21 February 2018

Based on the latest statistics published by the regulator on its website, a total of more than 9.64 million checks worth about 665 trillion rials ($14.61 billion) were written in Iran during the 10th Iranian month to Jan. 20, of which more than 1.43 million checks worth about 129 trillion rials ($2.83 billion) bounced.

A total of 3.49 million checks worth about 397 trillion rials ($8.72 billion) were issued in capital Tehran during the period, of which more than 500,000 checks worth about 67 trillion rials ($1.47 billion) bounced.

Therefore, bounced checks constituted 14.8% and 19.3% of all checks in terms of number and value during the month, registering declines compared with the previous month and the same month of last year, according to Financial Tribune.

In terms of numbers, the 14.8% share of bounced checks shows a decline compared with the 15.3% and 14.6% shares registered respectively during the ninth month of the current year to Dec. 21 and the 10th month of last year.

In terms of value, the 19.3% share of bounced checks indicates a decline compared with the 21.6% and 21.4% shares registered respectively in the previous month and the same month of last year.

The numbers are slightly different in Tehran where bounced checks grabbed a 14.4% share of all checks in terms of number, but had a 14.6% and 14% share compared to the previous month and the same month of last year.

In terms of value, Tehran’s bounced checks had a 16.8% share of all checks in the 10th month, which indicates a notable decrease compared to their value of 20.1% both in the ninth month of this year and the 10th month of last year.