By Yoon Sat - Aug 20, 2024
Workers from China-Myanmar border at northern Shan State said that the Chinese employers are paying them in kyat instead of yuan due to the continuous rose of the Yuan values.
100 Yuan worth 84,500 kyats in the afternoon of August 20, 2024 and the exchange rates rosed to 88,000 kyats in recent days and the Chinese employers in Muse are paying the Myanmar workers with Kyats instead of Yuan which was the original currency of salary.
It is also known that workers from factories Yinjiang, Ruili, Mangshi and are also given with Kyats and they have to exchange 160 yuan with 100,000 kyats.
“Out charger factory is paying with kyats and we have to exchange 160 yuan with 100,000 kyats while Yuan is rosing. We want to seek help from experts. Myanmar workers are losing although we know it,” said a factory worker.
According to the currency exchange rates of those regions on August 10, 2024, 100,000 kyats worth from 130 to 140 yuan but Myanmar workers have to exchange 160 yuan for 100,000 kyats.
The interchange payment method started since the currency exchange rates rose in August and according to news until August 20, some factories are exploiting the workers while some factories pay with the up to date exchange rates.
100 Yuan worths 73,000 kyats on August 8th morning and rosed to 75,000 kyats in the evening and 100 yuan worths 78,000 to 82,000 kyats on August 9, 2023.
100 Yuan rosed from 85,000 kyats to 88,000 kyats on August 18, 2024. It was again worth 85,000 kyats on August 19th and worths 84,500 kyats on August 20.
It is reported that these workers are facing difficulties due to the raising commodity prices due to the rose of Yuan and get paid 9 – 13 kyats instead of 1,500 yuan.
