After an unprecedented upsurge a month earlier, the number of bad checks reversed course in the month to January 19 posting decline in number and value.
The number of bounced checks was 678,000 down 24%, according to data released by the Central Bank of Iran. The value of returned checks fell 10.5% compared to the earlier month to reach 209 trillion rials ($836 million).
It said the figures are much lower than the monthly rise of 31.1% in volume and 5.6% in value a month earlier driven mainly by the business lockdowns to contain the Covid-19 pandemic.
February 27, 2021 11:31
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Bad Checks in Decline
More than 8.4 million checks worth 1,885 trillion rials ($7.54 billion) were drawn in the 30 days. That was down 10.7% in number while the value increased 1.4%, compared to the month earlier
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