More than 496,000 checks bounced in the eighth fiscal month ending Nov. 22, up 2.4% on the previous month.
The bad checks were worth an estimated 343 trillion rials ($844 million) – down 2.8% in value monthly, the Central Bank of Iran reported.
It said the rejected checks accounted for 7.1% of the total (value) drawn checks and 9.3% of the volume of checks issued in the month.
In the corresponding period last year, 8.9% and 12.2% of the volume and value of all drawn checks, respectively, were rejected, accounting for 7.6% and 11.1% of the total drawn checks in terms of volume and value, respectively.
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