Bad Checks in Decline

February 28, 2021
banking

A fter an unprecedented upsurge a month earlier, the number of bad checks reversed course in the month to January 19 posting decline in number and value.

The number of bounced checks was 678,000 down 24%, according to data released by the Central Bank of Iran. The value of returned checks fell 10.5% compared to the earlier month to reach 209 trillion rials ($836 million).

It said the figures are much lower than the monthly rise of 31.1% in volume and 5.6% in value a month earlier driven mainly by the business lockdowns to contain the Covid-19 pandemic.

financialtribune



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