Bangladesh's foreign currency reserves have crossed the $38-billion mark for the first time amid the coronavirus pandemic.

The central bank's foreign reserves reached the milestone on Monday thanks to robust growth in inward remittances after Eid-ul-Azha.

The uptick in remittances saw the foreign reserves swell by $4 billion in the space of one and a half months to reach a record high of $38 billion.

Confirming the development on Monday, Finance Minister AHM Mustafa Kamal told bdnews24.com: "The foreign exchange reserves are setting one record after another, relying mainly on the remittances sent by expatriates."

He expressed his gratitude to the expatriates for their role in keeping the country's economy afloat as it continues to grapple with the pandemic.

https://bdnews24.com/economy/2020/08/18/remittances-drive-bangladesh-forex-reserves-past-38bn-in-pandemic