BAKU, Azerbaijan, May 2. Overall, 8.6 million bank checks worth approximately 5.88 quadrillion rials (about $138 billion) were exchanged in Iran in the 12th month of the last Iranian year (February 20 through March 20, 2023), Trend reports via the report of the Central Bank of Iran (CBI).
This is an increase of 15.6 percent in value and 2.7 percent in number compared to the 11th month (January 21 through February 19, 2023).
Meanwhile, in the 11th month of the last Iranian year, 8.4 million bank checks worth approximately 5.09 quadrillion rials (about $121 billion) were exchanged in the country.
In the 12-th month, more than 8 million checks worth 5.37 quadrillion rials (about $128 billion) were received, while over 607,000 checks worth about 511 trillion rials (about $12.2 billion) bounced by the country’s bank.
The reason for the bounce of checks was the lack of available funds.
Last 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 as online.
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