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Bounced Checks Decline

Bounced Checks Decline Bounced Checks Decline

About 9.1 million checks worth 780 trillion rials ($17.68 billion) were transacted in Iran during the third month of the current fiscal year to June 21, showing a respective decline of 8.2% and 1.8% in terms of numbers and value compared to the previous month.

About 1.3 million checks worth about 135 trillion rials ($3.06 billion) bounced in that month, higher by 7% and 3.3% in terms of number and value compared to the second month, IBENA, the news website affiliated with the Central Bank of Iran, reported.

About 7.8 million checks worth about 645 trillion rials ($14.62 billion) were cleared in Iran during the third month of the current year, showing a respective monthly decline of 8.4% and 1.4% in terms of number and value. 

Tehran grabbed the highest share of total transacted checks with about 3.3 million checks worth about 446 trillion rials ($10.10 billion). Figures show that 53.3% of all checks in terms of number were transacted in the three provinces of Tehran, Isfahan and Khorasan Razavi. Their respective shares of total checks were 36.4%, 9.5% and 7.6%.

The shares of the aforesaid provinces were even more pronounced in terms of value at 67.9% of total checks. Tehran grabbed a 57.1% share of total checks’ value and was followed by Khorasan Razavi at 5.5% and Isfahan at 5.3%.

Figures for bounced checks show that about 464,000 checks worth 66 trillion rials ($1.50 billion) bounced in Tehran, equal to 14.6% and 17.3% of all bounced checks in the country in terms of number and value respectively. 

During the third month of the current year, Khuzestan had the highest share of total bounced checks in terms of value at 30.7% and was followed by Semnan at 27.9% and Lorestan at 27.8%. Kermanshah with 10.6%, Bushehr with 14.7% and Gilan with 15.5% were the provinces with the lowest value of bounced checks in Iran during the month. 

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Financialtribune.com