Vehicle prices to increase due to Rupee depreciation
September 22, 2018 11:27 am
Vehicles prices will be increased by at least Rs 300,000 due to the depreciation of the Sri Lankan Rupee, vehicle importers said today.
“Prices of imported vehicles will increase by at least Rs200,000-300,000. The increase will definitely fall to the consumer side,” Chairman of the Vehicle Importers Association of Sri Lanka (VIASL), Ranjan Peiris said.
The Sri Lankan rupee hit a record low for an eighth straight session on Friday.
The rupee fell to an all-time low of 169.00 per dollar before closing at 168.50/170, compared with Thursday’s close of 168.65/169.00.
The rupee has weakened 4.5 percent so far this month after a 1.2 percent drop last month, and has declined 9.9 percent so far this year.
