Economy, Business And Markets

1.6m Checks Bounce in Mehr

1.6m Checks Bounce  in Mehr1.6m Checks Bounce  in Mehr

A total of 9.9 million checks worth about 615 trillion rials ($15 billion) were transacted in the seventh Iranian month Mehr (Sept. 23-Oct. 22), of which 1.6 million checks worth about 131 trillion rials ($3.3 billion) bounced, data published by the Central Bank of Iran on its official website show. The value of checks in the aforementioned month decreased to 21.3% compared to the month before while the number of checks experienced a small increase from 15.6% to 15.7% compared to the previous month. Among all the checks exchanged in the seventh month, there was a 15.7% and 21.3% rise in bounced checks in terms of volume and value respectively. 

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