Checks Valued at $15 Billion Exchanged in 1 Month

EghtesadOnline: The Central Bank of Iran has disclosed the latest statistics on the number and value of bank checks, which indicate a monthly rise and yearly decrease in the number and value of bounced checks.

News ID: ۷۸۲۲۱۵

08 April 2018

According to a report published on the website of the monetary regulator, more than 9.62 million checks worth more than 730.44 trillion rials ($15.15 billion) were exchanged during the 11th Iranian month of Bahman to Feb. 19.

A total of more than 1.44 million checks worth more than 149.27 trillion rials ($3.1 billion) bounced in that month.

This is while a majority of checks were transacted in Tehran, exceeding 3.51 million checks worth over 447.29 trillion rials ($9.28 billion) while 516,600 checks worth more than 86.92 trillion rials ($1.8 billion) bounced in Tehran, according to Financial Tribune.

The number of bounced checks constituted a 15% share of all checks on a countrywide scale in the month, indicating an increase compared with the 14.8% share of the month before and a slight decrease compared with the 15.1% share of the same month of last year.

In Tehran, the share of the number of bounced checks was equal to 14.7%, registering hikes when compared to the shares of 14.4% and 14.5% registered during the previous month and the same month of last year previously.

In terms of value, bounced checks grabbed a 20.4% share of all checks transacted in Iran during the month, which shows an increase when compared with the 19.3% share of the month before and a slight decrease when compared with the 20.5% of the same month of last year.

In Tehran, bounced checks had a 19.4% share of all checks in terms of value, registering a notable rise compared with the 16.8% of last month and 18.5% of the same month of last year.