32.9% decrease in returned checks

The latest statistics published by the Central Bank on the flow of checks show that in October of this year, more than 5.4 checks worth about 200 thousand and 500 billion tomans were exchanged, which in terms of number and amount are 25.7 and respectively. 19.8% decrease compared to September.

On the other hand, more than 4 million and 900 thousand items worth 174 thousand and 300 billion tomans have been received from exchange checks, which in terms of number and amount are reduced by 24.9 and 20.2 percent, respectively.

Reduction of returned checks and check transactions

In addition to the received checks, about 476 thousand returned checks, which in terms of number and amount of returned checks decreased by 32.9 and 16.6 percent, respectively.

Also during this period, in Tehran province, more than 1.5 million checks with a value equivalent to 100 thousand and 400 billion tomans have been exchanged, which indicates the leading position of Tehran province in the exchange of checks in the country.

Checks received in Tehran have been reported more than 1.4 million items worth about 87 thousand and 800 billion Tomans and returned checks about 122 thousand items worth about 12 thousand and 700 billion Tomans.

Increase the ratio of returned checks to exchange

Of course, although the number and value of returned checks in October this year has decreased compared to last month, but the ratio of returned checks to exchanges has increased from 8.2% in October last year to 8.8% in October this year.

On the other hand, the value of checks exchanged in October this year compared to the same period last year has decreased by eight percent.

Also, of the total number and amount of exchanged checks, 91.2% and 86.9% were collected and 8.8% and 13.1% were returned.

Amount of returned checks by causes

In addition, in October of this year, 458 thousand checks worth about 25 thousand and 200 billion tomans were returned in the whole country due to deficit or lack of funds, which in fact is 96.4% in terms of number and 96.1% in terms of value. Percentage of total bounced checks due to deficit or lack of inventory.

On the other hand, in Tehran province, about 116 thousand checks worth about 12 thousand and 100 billion tomans have been returned due to deficit or lack of inventory. Each was equal to 95.4%.