In January 2015, the total number of cleared checks slid by 3.63% y-o-y to reach 1.04M. The value of cleared checks declined from $6.16B in January 2014 to $5.82B in January 2015. The number of checks denominated in Lebanese Pounds edged up by 1.84% to 335,058 and their value ticked up from $1.48B in January 2014 to $1.49B in January 2015. The number of cleared checks denominated in foreign currency slid by 6% y-o-y to stand at 701,830 in January 2015 and their value also fell from $4.68B in January 2014 to $4.33B in January 2015. Accordingly, the dollarization rate of foreign-currency checks (Value of foreign currency checks as a share of total value) declined from 75.97% in January 2014 to 74.40% in January 2015. The number and value of returned checks increased going from 21,525 and $125M in January 2014 to 23,547 and $165M in January 2015, respectively. Therefore, the share of returned checks in the total value of cleared checks rose from 2.03% in January 2014 to 2.83% in January 2015.