Bounced Checks Down 9.7%

An estimated 450,000 checks bounced in the eighth fiscal month ending January 22, down 9.7% on the previous month as banks cleared more checks compared to the recent past. 
The total checks were worth 359 trillion rials ($747 ئillion), posting 6.3% growth on a monthly basis, the Central Bank of Iran reported. 
Bad checks accounted for 6.8% of total drawn checks and 8.5% of the volume of all checks issued in the month.
In the corresponding period last year, 8.4% and 11.3% of the volume and value of all drawn checks, respectively, were rejected.