BAKU, Azerbaijan, November 25. Overall, 7.4 million bank checks worth 4.72 quadrillion rials (about $112 billion) were exchanged in Iran in the 6th month of the current Iranian year (August 23 through September 22, 2023), Trend reports.
Data of the Central Bank of Iran (CBI) shows that this a decrease of 4.7 percent in value and 6.9 percent in volume, compared to the 5th month (July 23 through August 22, 2023).
In the 6th month, some 6.8 million checks worth 4.11 quadrillion rials (about $97.9 billion) were received in the country.
At the same time, 641,000 checks worth 610 trillion rials (about $14.5 billion) bounced by the country’s bank during 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 banks online.
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