In the past few weeks, the value of the Burmese currency has halved to around 800 kyat to the dollar. |
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In a city famed for its golden pagodas, they build crumbling temporary shelters, beg for kyat, and try to avoid police and army soldiers. |
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Under the new arrangement, lowest-ranking officials will get an overall monthly remuneration of 3,000 kyat while top officials will get 15,000 kyat. |
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This is the main reason the kyat collapsed to 350 to the dollar. |
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The estate is estimated to be worth 400 million kyat, but it is unclear what price it would fetch on the open market in economically battered Myanmar. |
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