India's leading automaker, Maruti Suzuki India has said that it is planning to increase prices of its products from January 2012 so as to cope with the declining value of the Indian rupee.

Maruti Suzuki India Managing Executive Officer, Marketing and Sales division, Mayank Pareek said, "Considering the amount of pressure that we are having on our margins due to currency fluctuations, we have to do something. We are looking at a price hike in January."

Pareek did not clarify if the if the price hike will be across all models or will only be for some selected models. He also did not announce the amount of price increases of the products.

MSI Chairman R C Bhargava added that the a week rupee and a strengthening yen has resulted in high prices of yen dominated imports for the country. The exchange rate was at about 50 paise per yen last year, which has now changed to over 60 paise per yen.

The company imports about Rs 8,000 crore worth of parts annually from international partners. MSI hiked prices of its diesel cars by up to Rs 10,000 last month to cope with the higher input prices.