Checks Worth $1.2b Rejected in 1 Month

The value of checks rejected in the calendar month to March 20 shot up 8.9% on the earlier month to reach 511 trillion rials ($1.24 billion).
Volume of bad checks stood at 607,000 – down 1.4% in one month, according to data released by the Central Bank of Iran.
In terms of volume and value, the rejected checks accounted for 7% and 8.7% of all drawn checks, respectively.
It merits mention that during the same period last year 8.9% and 11% of the volume and value of all drawn checks bounced.