According to the Association of Banks in Lebanon (ABL), the number and value of cleared checks dropped from 11.42 million and $66.06B by November 2015 to 11.29 million and $62.29B by November 2016.
The number and value of checks cleared in foreign currency fell by a yearly 3.68% and 9.40% to 7.38 million and $44.27B by November 2016. Meanwhile, the number and value of checks cleared in Lebanese Pounds (LBP) rose by 4.24% and 4.76% to 3.91 million and $18.02B in the first 11 months of the year.
The check clearing in foreign currency remains dominant over local currency check clearing. However, the dollarization of check clearing in volume and value terms fell slightly from 67.15% and 73.96% by November 2015 to 65.39% and 71.07% by November 2016.
During the month of November alone, the number and value of cleared checks rose by a yearly 0.72% and 2.86% to 1.03 million and $5.65B. In November 2016, the volume and value of checks in LBP rose by 8.28% and 11.74% to reach 366,107 and $1.68B while the volume and value of foreign currency checks fell by 3.01% and 0.50% to 664,128 and $3.97B.
Value of Cleared Checks by November ($M)