Cleared checks at end-June

Checks cleared by the Central Bank at $34.12 billion in first half of 2011

July 19, 2011- The number of checks cleared by the Central Bank rose by 1.2 percent year-on-year (y-o-y) to 6.35 million, worth $34.12 billion, in the first half of 2011. The value of cleared checks was nearly equivalent to that of checks cleared during the same period in 2010.

The value of checks denominated in foreign currencies declined by two percent to $26.9 billion, leading to a small drop in the dollarization rate of checks to 79 percent compared to 81 percent recorded in the same period a year earlier.
The value of defaulted checks climbed by 5.3 percent y-o-y to $792 million, accounting for 2.3 percent of the total value of checks.