Check Payments Top $18 Billion in 1 Month

More than 9.9 million checks worth about 794 trillion rials ($18.78 billion) were exchanged in Iran during the second month of the current fiscal year (ended May 21), which indicated a respective increase of 47.7% and 70.3% in terms of numbers and value when compared with the previous month. According to IBENA, a news outlet affiliated with the Central Bank of Iran, about 3.7 million checks worth over 456 trillion rials ($10.78 billion) were issued in Tehran during the period.
During the second month of the current year, about 53.9% of the total checks changed hands in the three major provinces of Tehran, Isfahan and Khorasan Razavi which collectively grabbed a majority share of total checks with a respective individual share of 36.9%, 9.4% and 7.6%.
In terms of the value of checks, Tehran once again had a predominant share of 68.1% while the two aforesaid provinces ranked second and third with a respective share of 5.5% and 5.1%.