Bounced Checks Decline in Volume, Rise in Value

Checks worth 221 trillion rials ($850 million) bounced in the month to November 20 -- 3.1% higher on a monthly basis. 
According to data published by Central Bank of Iran, the number of bad checks stood at 681,000 down 7.2%. Bounced checks accounted for 8.5% and 11.6% of the total volume and value of written checks, respectively.
Bad checks in Tehran Province accounted for 7.3% and 11% of all drawn checks in the capital in volume and value terms.
During the month under review, the number of checks returned in the capital reached close to 171,000 worth 100 trillion rials ($384.61m).