1.4m Checks Bounce in Azar

About 9.4 million checks worth about 625 trillion rials ($14.2 billion) were transacted in Azar, the ninth Iranian month ending Dec. 21, of which more than 1.4 million checks worth about 135 trillion rials ($3.06 billion) bounced. As a result, bounced checks constituted 15.3% and 21.6% of all the checks in the country in terms of numbers and value in that month respectively, meaning that the value of checks has decreased compared to the previous month and increased in comparison with the same month of last year. In terms of the number of checks, the ninth Iranian month registered a decline compared with both the previous month and the same month of the previous year. About 3.3 million checks were transacted in the capital city of Tehran.