Business And Markets

Bad Checks Rise 3% in 1 Month

Bad Checks Rise 3% in 1 MonthBad Checks Rise 3% in 1 Month

A total of 667,000 checks worth 104 trillion rials ($779 million) bounced during the calendar month to December 21, the Central Bank of Iran reported. 
Bounced checks shot up 3.3% in value compared to a month earlier when 686,000 checks worth 100 trillion rials were rejected.
In volume terms, however, the number was down 2.7% on a monthly basis, the CBI website said. 
Bad checks accounted for 8.3% of the total number of negotiated checks and 10.5% of the value of drawn checks.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment