BAKU, Azerbaijan, February 1. The checks exchanged in Iran dropped by 6.2 percent in value and 12.2 percent in quantity during the ninth month of the current Iranian year (from October 22 through December 20-20, 2024) compared to the eighth month of the current year (from October 22 through November 21, 2024).
The data obtained by Trend from the country's central bank shows that the exchanged checks amounted to more than 8.3 million checks worth about 7.3 quadrillion rials (about $12.6 billion) during the ninth month.
Furthermore, the information notes that more than 7.5 million checks, valued at 6.28 quadrillion rials (around $10.9 billion), were received during the ninth month.
Moreover, the data indicates that 780,000 checks worth 1.02 quadrillion rials (about $1.76 billion) were refunded during the ninth month. The refunded checks decreased by 6.3 percent in value and 9 percent in quantity compared to the eighth month..
The report reasons refunded checks with insufficient funds or account shortages.
To note, Iran established a check exchange system last year. Under this system, banks can verify checks handed over to banks online for the presence or lack of money.