The Union Bank of Burma issued Burmese Currency notes backed by Gold Reserves.
The bills were signed by authorities (e.g. Sithu U Kaung, U San Lin).
One US dollar traded at 5 – 6 kyats, and one Sterling pound around 12 – 13 kyats.
Old Receipt
Old Receipt from 1979
The Old Receipt (for 146 Kyats and 50 Pyas) is a testament of the purchasing power in the 70s.
It was for a farewell dinner for Saya U Myo Win (M/Ag65) by 25 members of the RIT Automobile Club.
Decline in the value of theKyat
Three rounds of Demonetization, mismanagement, … saw a huge decline in the value of the Kyat.
Snap shots of the exchange rate :
1 Kyat = 4 (or more) Bahts (Early days)
1 Kyat = 1 Baht (Baht Taik Kyat Taik Khit)
4 (or more Kyats) = 1 Baht
Four decades ago, a Palmist friend told me that I would own 10 Lakhs. The top prize for the “Aung Bar Lay” Lottery was 1 Lakh. A professor’s monthly salary was K1300. A lecturer earned 800 – 1200 kyats.
A few years back, my friend had to pay 10 Lakhs for a visit to a hospital in Yangon.
Another friend had to pay 800+ Lakhs to a hospital in Singapore. Luckily, he had inherited a fortune from his parents.
Swam almost daily Even when he was visiting Singapore on business trips.
GBNF
Invitation to SPZP-2000
Saya was invited by his former students in the US and Singapore to attend SPZP-2000.
He gently declined the offer.
Told his students to sponsor EE saya who had not been to the US.
Said that he had been to the US for his studies. | He was a top student at the University of Michigan, USA.
With permission from Saya Allen Htay, we are printing the letter from Saya U Sein Win.
Saya’s Letter
Dear Allen & Ko San Hla Aung,
Long time no see!
Since I retired in 1993, I have been doing odd jobs. I was a mechanical and electrical supervisor for about 6 months at the FMI shopping center constructing job. Then after the construction phase, I retired, doing nothing, except to drive my youngest daughter to various tuition places.
For the last two years, I worked part-time again, 3 times a week, from 11:00 a.m to 5 p.m., as a consultant for the maintenance of mechanical and electrical works, as my youngest daughter finished her matriculation classes.
Since last month, I have another part-time jobs as consultant to a UPS selling company, working on Tuesdays and Thursdays, I am now in Singapore for a week, at the Liebert UPS (USA based Ohio Co.) Co., for servicing and repair of UPSs and am going back [on Tuesday] with one of the company men.
Since both my jobs are part-time jobs, and I am on company’s expense here, I do not have any leave privileges, etc. and I am sorry I can’t afford to go to USA.
My eldest daughter and my second daughter are now medical doctors. My youngest is now reading for her first year medical course. I am still living in the same old house near the Inya Lake.
I hope both of you are healthy as I am now a health buff and tried to stay in health but at this age nobody can say what will happen as I noticed, looking up obituaries of people around my age in the newspaper and see the names of old friends.
Yours, —- auld lang syne— Sein Win
Anecdote
Saya U Sein Win left his brand new spouse at a Zay (presumably Bogyoke Zay).
Saya went back to RIT, and had a long discussion with his students.
The students asked, “How is Sayagadaw?”
Saya’s reply : “Let’s end the discussion. It’s past time I should have picked her up at the Zay”.
Uzin Bobby Myo Tun (A69) wrote :
Classic example of ‘the absent-minded professor!’
U Aung Myint (UCC) wrote :
I heard about that from some of the students or from the Lab staffs while I was in EC lab: What I heard was a little different. What I heard was “He parked at Hledan Zay. His wife went for buying. He was waiting inside the car. Suddenly he got an idea of taking hair cut nearby instead of waiting for a long time. After hair cutting he forgot everything and drove the car alone. I don’t know if that is true or not.
The three co-founders were were the early students of Sayagyi U Pe Maung Tin (Pali and Burmese Scholar) at the then newly established “Burmese Department” at the Rangoon University.
Dr. Chit Swe (Founder / Director of UCC) firmly believed in Transfer of Knowledge and Technology.
For the UCC Project, several distinguished Computing Professionals gave courses — short term and long term.
Professor Harry D Huskey (UCSC) and Professor Anthony Ralston (SUNY, Buffalo) were Past ACM Presidents. They taught courses on “History of Computers”, “Structured Programming”, “PASS (Compiler)”, “ZIP (Interpreter)” …
Professor Michael Stonebraker (then at UC Berkeley) gave a short course at UCC on Relational DBMS in general, and Ingres in particular. A few years back, he won the Prestigious ACM Turing Award and the $1 M prize. He joined Charles Bachmann, E F Codd and Jim Gray as DBMS Gurus to win the Turing Award, He is the lone Serial Entrepreneur among the 70 ACM Turing Award Winners.
There were several other visiting Professors (e.g Peter Wegner, Foreman Acton) and IT Professionals (e.g. Sheldon Bacchus).
HlaMin 