Check Payments Top $18 Billion in 1 Month

EghtesadOnline: More than 9.9 million checks worth about 794 trillion rials ($18.78 billion) were exchanged in Iran during the second month of the current fiscal year (ended May 21), which indicated a respective increase of 47.7% and 70.3% in terms of numbers and value when compared with the previous month. According to IBENA, a news outlet affiliated with the Central Bank of Iran, about 3.7 million checks worth over 456 trillion rials ($10.78 billion) were issued in Tehran during the period.

News ID: ۷۸۲۹۶۶

19 June 2018

During the second month of the current year, about 53.9% of the total checks changed hands in the three major provinces of Tehran, Isfahan and Khorasan Razavi which collectively grabbed a majority share of total checks with a respective individual share of 36.9%, 9.4% and 7.6%.

In terms of the value of checks, Tehran once again had a predominant share of 68.1% while the two aforesaid provinces ranked second and third with a respective share of 5.5% and 5.1%.

About 8.5 million checks worth about 655 trillion rials ($15.49 billion) were cashed across Iran in this month, which was higher by 47.3% and 74% compared with the previous month in terms of numbers and value respectively. Therefore, 85.6% and 82.5% of the checks were cleared in terms of number and value, Financial Tribune reported.

About 3.2 million checks were cleared in Tehran, as the province registered clearance ratios of 86.3% and 84% in terms of number and value of checks respectively.

During the second month of the year, a total of over 1.4 million checks worth over 139 trillion rials ($3.28 billion) bounced in Iran, which was higher by 49.5% and 55.1% in terms of numbers and value respectively when compared with the month before.

About 501,000 of those bounced checks pertained to Tehran and registered a total value of about 73 trillion rials ($1.72 billion). On the nationwide scale, about 14.4% and 17.5% of all exchanged checks bounced in terms of number and value respectively.