Manila, July 15 -- Money sent home by overseas Filipinos continued to grow, reaching USD2.71 billion in May this year, according to Bangko Sentral ng Pilipinas (BSP) data.

Preliminary data released by the BSP on Wednesday showed that the amount was 2 percent higher than the USD2.6 billion recorded in April last year.

The BSP said the growth in cash remittances reflects sustained inflows from overseas Filipinos.

For January to May this year, cash remittances reached USD14.11 billion, higher by 2.5 percent than last year's USD13.77 billion.

Personal remittances, which cover cash sent through banks and informal channels, as well as remittances in kind, also rose by 2.1 percent from USD2.97 billion in May last year to USD3.03 billion in ...