BAKU, Azerbaijan, May 20. The value and number of banknotes exchanged in Iran reflected a 42.8 percent decrease in value and a 24.5 percent decline in volume during the first month of the current Iranian year (from March 21 through April 20, 2025), compared to the 12th month of the previous year (from February 19 through March 20, 2025).
Data obtained by Trend from the Central Bank (CBI) indicates that exchanged banknotes during this period totaled 6.32 quadrillion rials (approximately $11 billion).
In comparison, over 10.6 million banknotes worth 11 quadrillion rials (about $19.4 billion) were exchanged in the 12th month of the previous Iranian year.
More than 7.3 million banknotes valued at 5.45 quadrillion rials (around $9.53 billion) were received during the first month.
Meanwhile, 736,000 banknotes worth 875 trillion rials (roughly $1.53 billion) were returned, indicating a decrease of 48.8 percent in value and 26.1 percent in volume from the previous month.
The CBI attributes the returned banknotes to insufficient funds or account shortages. The report also highlights the establishment of a banknote exchange verification system in 2024, allowing banks to check fund availability online before processing cheques.
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