Importers make key observations as rupee depreciates against the US dollar

Importers make key observations as rupee depreciates against the US dollar

Importers make key observations as rupee depreciates against the US dollar

Written by Staff Writer

21 Sep, 2015 | 9:01 pm

Importers say that the depreciation of the rupee against the US dollar, could cause the prices of imported goods to rise further.

Wholesalers in Pettah say that the prices of several goods including sugar, dhal, cowpea and chilli have already risen as a result of taxes imposed recently by the government.

The rupee has depreciated significantly, ever since the Central Bank of Sri Lanka decided to float the currency on the fourth of this month.

It is normal for the prices of imported goods to rise as the rupee depreciates against the US dollar.

When News1st made inquiries, it was noted that the prices of food items are yet to rise parallel to the depreciation of the rupee.

However, the prices of several goods had increased as a result of levies imposed by the government on September 9.

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