Bounced Checks Decline

More than 484,000 checks bounced in the seventh fiscal month ending Oct. 22, down 12.3% against the previous month as banks cleared more checks compared to the recent past. 
The checks were worth 353 trillion rials ($1.07 billion), posting no change on a monthly basis, the Central Bank of Iran reported. 
Bad checks accounted for 7.6% of total drawn checks and 11.1% of the volume of all checks issued in the month.
In the corresponding period of last year, 8.8% and 13.1% of the volume and value of all drawn checks respectively were rejected. Bad checks accounted for 8.2% and 10.5% of the total drawn checks in the sixth month of the Iranian year in terms of volume and value respectively.