Value of Bad Checks Up, Volume Down

Central Bank of Iran monthly report shows bad checks declined in number in the calendar month to May 20 but their value increased. 
Bad checks were worth 167 trillion rials ($870 million) by the end of the month to May 20  -- up 28% on a monthly basis. 
The number of bounced checks stood at 999,000 during the period, showing a decline of 10.3%, the CBI website said. 
Bounced checks accounted for 12.5% of the total number of checks and 12.3% in value of checks drawn during the month.