BAKU, Azerbaijan, April 1. A total of 9.9 million checks worth 9.14 quadrillion rials (about $16 billion) were exchanged in Iran during the 11th month of the last Iranian year (from January 20 through February 18, 2025.
The data obtained by Trend from the country's central bank shows that in the reporting period the value of checks rose by 0.4 percent, while the quantity decreased by 10.1 percent compared to the 10th month of the last year (from December 21, 2024 through January 19, 2025).
Furthermore, over 8.9 million checks, valued at 7.85 quadrillion rials (around $13.8 billion), were received during the 11th month.
Moreover, 1.03 million checks worth 1.29 quadrillion rials (about $2.26 billion) were refunded in the 11th month. The refunded checks decreased by 0.7 percent in value and 9.1 percent in quantity compared to the eighth month.
The checks are refunded due to insufficient funds or account shortages.
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.
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