Bounced Checks Down 9.8%

The number of bounced checks fell 9.8% during the Iranian month ending Aug. 22 compared with a month earlier, according to the Central Bank of Iran’s latest report. 
More than 647,000 checks worth 108 trillion rials ($943.23 million) bounced during the month under review, also registering a decline of 2.8% in value compared with the previous report when 717,400 checks worth $980 million were returned.  
The data covered only interbank checks processed by Chekavak, a CBI-affiliated electronic check processing system.
During the month, 7.3 million checks valued at 866 trillion rials ($7.56 billion) were drawn, indicating a monthly decline of 6.1% in the number of issued checks.