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Vehicle prices up with rupee depreciation
By Sachitra Mahendra
The recent appreciation of foreign currencies against the Sri Lankan rupee is set to have an impact on vehicle prices. The buying rates of the Japanese yen, American dollar and the Euro have gone up to .9328 cents, Rs. 102.45 and Rs. 126.30 respectively. The Japanese yen has increased by .15 cents approximately.

"When the value of the yen goes up, the price we should bear in taxes and duties also goes up. That means the price of vehicles also increases " a spokesman for one of the leading car importers said.

The price of some brands of cars will go up by Rs. 100,000 or more. It may even be Rs. 300,000 to Rs. 400,000 more, according to some vehicle dealers.

An average vehicle costing Rs. 150,000 will now cost Rs. 250,000.An average double cab will go up in price by Rs. 200,000. "We are not getting any profit out of this increase. What we are doing is just battling with the increase" a manager of a car sales company said.

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