Value of Cleared Checks Dropped by a yearly 7.61 % y-o-y to $66.06B by November

The value of cleared checks fell by 7.61% during the first 11 months of the year, which might be due to lower business spending, and the fact that people are possibly substituting payments via checks with various payment cards and e-payments.  In fact, the number of checks cleared by Banque du Liban amounted to 11.42M worth $66.06B by November 2015, compared to a larger number of 11.83M checks valued at $71.50B recorded a year earlier.

In details, the value of cleared checks denominated in Lebanese Pound (LP) grew by 4.17% annually to $17.20B by November, in comparison to the $16.51B registered by November 2014.  However, that of foreign currencies plunged by 11.14% y-o-y to $48.86B, significantly lower than the $54.99B disclosed last year. Consequently, the dollarization rate, in terms of value, went down from 76.90% to 73.96% over the same period.

As for returned checks, they constituted 2.13% of total value of checks by November this year, up from the 2.01% recorded the previous year.

In November alone, the total value of cleared checks dropped by 6.65% to $5.49B. The value of cleared checks denominated in foreign currencies decreased by 8.66% y-o-y to $3.99B, while those denominated in local currencies showed a 0.86% downtick from November 2014 to $1.51B in November 2015.

Value of Cleared Checks by November (in $M)

Value of Cleared Checks Dropped by a yearly 7.61 % y-o-y to $66.06B by November

Source: ABL

 

 

 

 

 

 

 

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