BAKU, Azerbaijan, March 18. Checks exchanged in Iran during the 10th month of the current Iranian year (from December 22, 2023, through January 20, 2024) increased by 5.4 percent in value terms and 2.4 percent in quantity terms compared to the 9th month (November 22 through December 21, 2023), the report of Iran's Central Bank said, Trend reports.
According to the report, checks exchanged during the 10th month compared to the 9th month amounted to more than 8.1 million checks worth about 5.4 quadrillion rials (about $132 billion).
The report notes that more than 7.4 million checks worth about 4.89 quadrillion rials (about $116 billion) were recorded during the 10th month.
The information says that 685,000 checks worth about 654 trillion rials (about $15.6 billion) were refunded during the 10 months. The refund of checks decreased by 0.7 percent in terms of value and 7.6 percent in terms of quantity.
Meanwhile, the reason for refunding checks is a lack of available funds or a deficit.
To note, a check exchange system was established in Iran last year. According to this system, banks can check checks transmitted to them online for the presence or absence of funds.
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