Business And Markets

Bad Checks Mount

Bad Checks MountBad Checks Mount

More than 694,000 checks bounced during the month to January 20 -- up 3.9% compared to the earlier month, according to report on the Central Bank of Iran website. 
The report said the bad checks were valued at 112 trillion rials ($800 million), also indicating a 7.7% monthly hike in value terms. 
Bounced checks accounted for 8.2% of all issued checks and 10.1% of their value in the month. This indicates a subtle decline in returned checks compared to the corresponding month last year when bad checks accounted for 10.6% and 11.9% of the total volume and value of checks. 


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