09.Jul.2008 Remittance

A total of SGD 700.00 was remitted at 1 SGD = 870 Kyats

Main Fund: SGD 400 = Ks 348,000.00
Reserve Fund: SGD 300 = Ks 261,000.00

18.Jun.2008 Remittance

A remittance was done today at 1 SGD = 855 Kyats

Main Fund: SGD 1400.00 = Ks 1,197,000.00
Reserve Fund: SGD 100.00 = Ks 855,00.00

11.Jun.2008 Remittance

Remittance to Yangon was done yesterday at 1 SGD = 846 Kyats

Main Fund: SGD 2650.00 = Ks 2,241,900.00
Reserve Fund: SGD 350.00 = Ks 296,100.00

03.Jun.2008 Remittance

Remittance to Yangon was done today at 1 SGD = 840 Kyats

Main Fund: SGD 2604.5 = Ks 2,187,780.00
Reserve Fund: SGD 395.5 = Ks 332,220.00

27.May.2008 Remittance

Remittance to Yangon was done today at 1 SGD = 840 Kyats

Main Fund: SGD 1865 = Ks 1,566,600.00
Reserve Fund: SGD 135 = Ks 113400.00

We are choosing to hold on to SGD as it is appreciating against the Burmese kyat.

Next Remittance

We are planning for another remittance, as funds are running low in Yangon. Fortunately for us, the rates are holding steady at the range of about Ks 830 for 1 SGD.

Money matters

Exchange rates are dropping steadily. Agents in Peninsula plaza were selling Singapore dollars at SGD 820 (down from Monday's 825).

This is causing us some concern, and we will send the remaining funds to Yangon today at a rate of 1 SGD = Ks 835. It will be done at 10am GMT +6.5.

We are also concerned about the rising price of commodities in Yangon. While we managed to get a discounted rate (over 30%) for our first purchase of 30 sacks of rice, we might not be able to do so in the future.

We are asking help from a factory owner to sponsor storage space. If it works out, we will try to buy food stocks in advance before the prices shoot up even more.

Two donors in Yangon have also pledged to donate 3 sacks of rice for our next project. We will put up a new list to acknowledge our sponsors.

12.May.2008 Remittance from Singapore

The best exchange rate available today is:
1 SGD = Ks 842

Due to huge amounts of money being transferred, the Burmese Kyat is appreciating against the Singapore dollar. The lowest rate offered today is 825 Kyats for every Singapore dollar.

In order to make an even number of Ks 1,600,000, Cyclone Aid will top up the difference of SGD 46.00.

Total Remittance: SGD 1900 (Ks 16 Lakh)

Tentatively, the money will be distributed by region:
Laputta: Ks 5,000,000 (NLS's team)
Bogalay: Ks 5,000,000 (SYA's team)

Reserve: Ks 6,000,000 (for KunChanKone)

This amount will be adjusted accordingly when we get feedback from the teams.

The Yangon coordinators should be able to collect them within 1-2 days.

11.May.2008 Exchange Rates

1 USD = Ks 1150
1 SGD = Ks 843

Approximate rates provided by agents in Peninsula Plaza, Singapore.